Tasty reports 30% increase in revenue but profits fall after four new openings
Adam and Sam Kaye's Tasty group, which operates the Wildwood and Dim T restaurant brands, has reported a 30% increase in turnover for the half year to 1 July 2012, thanks to four new sites and updated menus.
The company's turnover hit just over £8.8m for the period, compared with £6.8m in the same period a year before. But pre-tax profit was down nearly 19% from £440,000 to £360,000.
That fall was largely down to the cost of opening new stores, which Tasty said totalled £348,000, compared with £67,000 in 2011.
Tasty opened Wildwood restaurants in Epping in March, Market Harborough in April, and Ely and London's Bow Street in May. A site in Cambridge acquired in December 2011 was rebranded in February into a Wildwood and reopened in March.
Tasty now has 22 restaurants in total, consisting of six Dim Ts, fourteen Wildwoods and two other restaurants.
By Neil Gerrard
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