By Xavier Fontdegloria
Tasty PLC on Monday reported a narrowed pretax loss for the first half of 2021 as sales increased, and said performance since the reopening for dine-in in May has exceeded expectations.
The U.K. restaurant operator made a pretax loss of 2.7 million pounds ($3.7 million) for the half year ended June 27 compared with a loss of GBP10.9 million for the same period a year ago.
Adjusted earnings before interest, taxes and depreciation--a key measure for the group that strips out exceptional and other one-off items--was GBP824,000 compared with a loss of GBP1.2 million in the first half of 2020.
Revenue increased 33% to GBP11.6 million. Although lockdown restrictions lasted longer in the first half of 2021 than the same period a year earlier, sales were propelled by growth in the delivery market, the company said.
Tasty said performance since the reopening for dine-in in May has been encouraging and exceeded the board's expectations, but that uncertainties remain as the winter season approaches as any new pandemic-related restrictions could hit the group's performance.
Staff shortages have forced temporary closures and prevented the reopening of some sites, the company added.
Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com
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