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Tasty restaurant group announces profit growth

24 | 04 | 13

The Tasty restaurant group has released its financial results for 2012, showing a substantial rise in profits.

Its pre-tax earnings increased from £1.07 million to £1.55 million, while revenue grew by 33 per cent to £1.93 million as the business continued to expand.

The Tasty group owns high street brands such as Wildwood and Dim T and now has a total of 26 venues throughout the country.

It opened five new Wildwood venues during 2012, as well as converting the former Chez Gerard restaurant in Cambridge.

The company also turned its two Cafe Pasta restaurants at Shaftesbury Avenue and Stratford-upon-Avon into a new sub-brand of Wildwood - Wildwood Kitchen. 

A third Wildwood Kitchen was opened at Didcot in March this year, as well as two Wildwood restaurants in South Woodford and Newmarket in April.

Keith Lassman, Tasty chairman, commented: “The group continually looks to update its menus and for much of the year has successfully offered promotions to encourage growth in sales although less aggressively than in previous years."

He said the company has increasingly focused on food and labour margins and these continue to be kept under constant review.

This has resulted in a considerable improvement in the trading position of the group, despite the challenging economic climate.

“As ever, it is our dedicated staff that have contributed significantly throughout the year to the group's much improved performance and I would like to take this opportunity of thanking them again for their hard work and effort," Mr Lassman added.

In other restaurant news, which may be of interest to kitchen equipment companies, healthy fast-food chain Tossed has undergone a management buy-out.

The company's existing management has bought out private equity firm Beringea
for an undisclosed sum   with the help of private investors, Caterer and Hotelkeeper reports.

Tossed's signature dish is tossed-to-order salads and it also provides smoothies, hot pots and other freshly prepared foods.

The business was founded in 2010 and now has 11 venues across the UK.ADNFCR-16001031-ID-801576585-ADNFCR

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