The well documented headwinds afflicting the casual dining sector continued to impact Tasty in FY18A, with the company's sales (-6% YoY) dented by a further weakening in consumer confidence and site closures. Margins are being squeezed by significant cost inflation (eg labour, commodities, business rates). Management is taking the sensible decision to sell underperforming sites, and focus on controlling costs. A planned £3.0-3.25m equity raise will significantly strengthen the balance sheet. Wit ....
12 Apr 2019
Cenkos: Tasty Plc - Turnaround plan underway
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Cenkos: Tasty Plc - Turnaround plan underway
Tasty plc (TAST:LON) | 1.0 0 0.0% | Mkt Cap: 1.49m
- Published:
12 Apr 2019 -
Author:
Peter Renton | Cavendish Research -
Pages:
6
The well documented headwinds afflicting the casual dining sector continued to impact Tasty in FY18A, with the company's sales (-6% YoY) dented by a further weakening in consumer confidence and site closures. Margins are being squeezed by significant cost inflation (eg labour, commodities, business rates). Management is taking the sensible decision to sell underperforming sites, and focus on controlling costs. A planned £3.0-3.25m equity raise will significantly strengthen the balance sheet. Wit ....