Tasty plc (GB:TAST) has released an update.
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Tasty plc, a casual dining restaurant operator, has released its interim results, revealing a revenue decline of 12% to £19.1m, alongside a restructuring plan that led to the closure of 14 restaurants and 160 redundancies. Despite tough market conditions, the firm reported a profit before tax of £13.4m for H1 2024, a significant improvement from the £6.2m loss in H1 2023, and an increase in adjusted EBITDA to £1.9m from £1.1m in the previous year. The company remains cautious about the future due to ongoing economic pressures but has secured a £750,000 loan to fund restructuring and provide additional working capital.
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