Wildwood owner Tasty in profit for first time
Tasty, the company behind pizza chain Wildwood and dim sum chain Dim T, has moved into the black for the first time, with a £244,000 pre-tax profit for the 53 weeks to 2 January.
The improved figure, the first year in which the company reported a statutory profit, came on increased revenue of £10.5m, up 15% from the previous year. Last year saw the company made a pre-tax loss of over £2m.
The year saw Tasty open four new Wildwood restaurants and re-rand one Dim T to Wildwood. The group now has 14 restaurants in total - six Dim Ts and eight Wildwoods, all based around London and the South-east.
The four new Wildwood restaurants were opened in Chelmsford in September, Loughton in November, and Billericay and Cobham in December. The Group has just exchanged contracts for a new unit in Canary Wharf, which is expected to open in May, and has others in the pipeline.
Commenting on the results, chairman Keith Lassman said: "Management have continued to focus on food and labour margins throughout the year and these continue to be kept under constant review. This has resulted in an improvement in the trading position of the group, despite the adverse economic climate in the UK."
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By Neil Gerrard
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