01 July 2020
By Maynard Paton
Results summary for Tasty (TAST):
- Largely redundant annual figures that revealed revenue down 6% and another operating loss.
- TAST’s 56 restaurants were shut in March and my estimates suggest the group could survive without sales until November.
- The second half seemed encouraging after Christmas bookings were helped by a turkey-themed festive menu.
- A £2m property disposal bolstered cash and cleared debt but significant liabilities remain.
- The £2.8m market cap could be a bargain, but radical management action is now essential to keep the business afloat. I continue to hold.