Tasty Share Discussion Threads

[lbo] 03/4/2018 11:53

https://www.cornwalllive.com/news/cornwall-news/casual-dining-crunch-could-see-1403432

[tmfmayn] 30/3/2018 20:48

Wishful thinking perhaps, but the director purchase should mean there are no current plans underway for any rescue rights issue. He would not be able to trade if he had that insider knowledge. I think that has underpinned the sudden relief rally, rather than the sum involved. That said, it is not unheard of for directors to buy ahead of administration...

[arthur_lame_stocks] 30/3/2018 15:03

That's what I thought LBO. I still can't see any reason to touch these at the moment.

[lbo] 30/3/2018 12:56

165,000 shares at 11.9p is hardly a huge show of faith!?

[value king] 29/3/2018 19:30

Home from work tonight to see the Chairman has doubled his holding.

I felt foolish buying @ 17p in February but not feeling so bad tonight, the share price will inevitably bounce well before the market hears the good news when it does come.

[arthur_lame_stocks] 24/3/2018 18:35

It's certainly tough out there.

hxxps://www.msn.com/en-gb/money/companies/prezzo-to-shut-94-restaurants-with-500-jobs-to-go/ar-BBKBySi?li=AA54rU&ocid=mailsignout

[lbo] 21/3/2018 08:48

https://www.theguardian.com/business/2018/mar/05/one-in-three-uk-top-100-restaurant-groups-lossmaking-study

[arthur_lame_stocks] 13/3/2018 19:02

The results weren't actually as bad as I expected. Don't think i'd risk buying in here just yet given the outlook for this year. I guess these could prove to be cheap one day if trading improves and they survive but it seems certain that plenty more casual dining venues are going to close first.

[totalgeek69] 13/3/2018 09:32

From the results statement..

"Funds for Canary Wharf and Gloucester Road totaling GBP4.15m have been received in 2018 and are not included in the cash and cash equivalents in these financial statements".

[masurenguy] 13/3/2018 08:21

Latest results - significant write-downs as might be expected - negative outlook on trading conditions for 2018. No position but still on my watchlist.

Tasty PLC
13 March 2018

Preliminary results for the 52 weeks ended 31 December 2017

Financial Highlights:

-- Revenue up 9.7% to £50.3m (2016: £45.8m)
-- The Company generated adjusted EBITDA of £3.5m
-- The Company disposed of three underperforming restaurants and opened six new Wildwood restaurants during the period. Post year end, the Company disposed of a further three sites
-- The Company does not intend to open any new restaurants in 2018, with management focused on restructuring the existing restaurant portfolio of the Company.
-- The financial performance of the Group was in line with the Board's revised expectation. Market conditions have been increasingly challenging through 2017 and the Board's expectation is that there will be no improvement in this regard in 2018.

The Board does not expect market conditions to improve in 2018 and believes a further deterioration is likely. Underlying input costs will continue to rise and consumer spending will face increased pressures. The Group's next round of operational improvements are targeting improvements in the areas of sales, food and labour margins, however it will be some time before the full benefit of these changes is felt and financial performance in 2018 is very unlikely to see any improvement on 2017.

Despite the fall in financial performance experienced in 2017, the Group remains cash generative. The Directors believe that the Group's brands remain attractive to customers and the Group has the right strategic plan in place to ensure future growth.

Margins saw significant decline in the year which is due to a number of underperforming sites as well as underlying inflationary pressures experienced through labour, food and business rates. The majority of sites have seen a decline in footfall in 2017 and as a result a decline in like for like sales.

Due to the declining performance, further site impairments have been made during the year resulting in an impairment charge of £9,462,000 (2017 - £3,576,000) and an onerous lease provision charge of £1,635,000 (2017 - £nil). The Group has disposed of a number of properties during the period resulting in a profit on disposal of £1,237,000 (2017 - £nil).

Operating profit before highlighted items decreased in the period to £1,235,000 (2017 53 weeks - £4,792,000) and the Group achieved a pre-tax loss (after highlighted items) of £9,470,000 (2017 -£88,000).

Net cash outflow for the period before financing was £2,991,000 (2017- £6,883,000). This is largely represented by capital expenditure on the expansion of the business through the opening of the above sites. Net cash flows generated from operations were £2,785,000 (2017 - £5,368,000).

The Group has an available banking facility with Barclays Bank of £12,000,000 made up of a £7,000,000 term loan and a £5,000,000 revolving facility. As at 31 December 2017 the Company had drawn £7,000,000 of the available facility (2016 - £7,000,000). Net debt at the balance sheet date was £5,157,000 (2017 - £1,996,000).

[smithless] 06/3/2018 15:25

The way the share price is going, it will be renaming itself TOAST. A Kaye pre-pack ahoy?

[lbo] 06/3/2018 13:50

Was not the date of the article that's important but the fact that it's the the Kayes that are the common denominator behind the failing Prezzo and Tasty model. And if anything things have got worse over the last year for both Prezzo and Tasty.

[bookbroker] 06/3/2018 07:52

That’s a year out of date, since then they have seen practically all their value wiped out, too many restaurants chasing the same theme, Zizzi’s I prefer to Pizza Express, but Prezzo just awful!

[pugugly] 05/3/2018 20:50

"Carluccio's is latest restaurant chain to feel the heat"
Worth a read if not already seen.
Agreed a very difficult call and the disruption caused by the recent and near future weather is going to hit the whole "go out" entertainment trade - Should possible give a boost to online entertainemt

[arthur_lame_stocks] 05/3/2018 18:59

Pugugly I guess it depends on whether they're going to survive this shakeout or whether they're going broke. I don't think it's an easy one to call either way at the moment.

It is starting to look interesting on a psr basis and the balance sheet is not too bad.

I'll keep watching for now.

[pugugly] 05/3/2018 16:33

ALS I supect even at your target 10p these might be bad for your health -

[lbo] 05/3/2018 09:10

https://www.telegraph.co.uk/business/2018/03/04/carluccios-brings-kpmg-amid-casual-dining-crunch/

[arthur_lame_stocks] 01/3/2018 19:06

I see these are still falling but personally i'm still not tempted. Might consider a punt at 10p on them surviving but not even sure about that.

[totalgeek69] 28/2/2018 16:39

Well that's 100 competing restaurants less. Many will not be near to a Wildwood of course but this sector is really going through a shakeout.

[lbo] 28/2/2018 16:21

https://www.dailystar.co.uk/news/latest-news/685296/Prezzo-restaurant-closure-UK-Italian-food-Toys-R-Us-Maplin-retail-high-street

[arthur_lame_stocks] 25/2/2018 19:28

Just been taking a look at these given that they've fallen a long way but can't see any good reason to invest at the moment. The whole sector seems to be struggling. I guess they should be able to generate some cash at least if they cease new openings and put their mind to it but I think i'll leave these on the watchlist for now.