Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAmala Foods Plc Share News (DISH)

  • This share is currently suspended. It was suspended at a price of 0.1367

Share Price Information for Amala Foods Plc (DISH)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.1367
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 0.00 (0.00%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 0.1367
DISH Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

BigDish Shares Sink 25% As First-Half Loss Widens On Biting Expenses

Mon, 30th Dec 2019 08:40

(Alliance News) - BigDish PLC said Monday that rising expenses and impairment costs led to a widened half-year loss, the operator of the eponymous discount dining platform said.

Shares in the company were 25% lower at 1.13 pence each in London in on Monday morning.

In the six months to September 30, firm's pretax loss widened to GBP1.1 million from GBP388,244 in the period to June 30, 2018. In April this year, the company announced it would change its year-end date to March 31.

Administrative expenses more than doubled to GBP735,077 from GBP235,423. BigDish also booked an impairment loss of GBP396,277, against none in the first-half of last year.

Revenue quadrupled but remained insignificant at GBP11,766. In the first six months of last year, BigDish posted revenue of GBP2,448.

The company added that it is fully funded until the third quarter of 2020 and ruled out any equity fundraising before July 2020.

Chief Executive Officer Tom Sumner said: "Since joining BigDish on December 2, we have been able to streamline operations and reduce cash burn significantly in order to improve and be more effective as a business in 2020.

"We have sufficient funding runway in order to increase the pace of restaurant acquisition which is the key performance indicator for the year ahead."

Like last year, BigDish paid no interim dividend.

Recent months have seen significant changes for the firm, both at a board and operational level.

Sanj Naha, the firm's former chief executive, moved to a consultant role following Sumner's appointment as CEO earlier in December.

New CEO Sumner, whose appointment was announced in November, is charged with driving the firm's shift to a more cost-effective telesales based business model.

BigDish's previous business model saw it employ nine territory managers for regions in the UK such as Birmingham, Reading and Brighton.

Now, the company's marketing drive will be fronted by a telesales team, with just two of the nine territory managers escaping the axe.

Sumner previously managed telesales teams at Gourmet Society and Tastecard, two brands operated by The Dining Club Group. Each brand partners with over 6,000 restaurants and provides users with a discount card for various dining chains.

BigDish said at the time: "Rather than 'boots on the ground', the company, led by Tom Sumner, will launch a telesales operation in Manchester on December 2 as its prime strategic initiative for restaurant acquisition.

"It is my expectation that 2020 will be a turnaround story for BigDish and our shareholders," Sumner said Monday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

More News
4 Jan 2024 20:34

IN BRIEF: Amala Foods says planned takeover of Dialysis progressing

Amala Foods PLC - cash shell - Says planned reverse takeover of Dialysis Care Plus Inc, as announced in early November, is progressing, adding that some regulatory consents are still outstanding. Says there can be no guarantee that the proposed reverse takeover will be concluded. The company says it is "confident" that the takeover will be concluded before the end of the first quarter of 2024.

Read more
1 Dec 2023 17:34

IN BRIEF: Amala expects to complete reverse takeover in early 2024

Amala Foods PLC - cash shell - Says planned reverse takeover of Dialysis Care Plus Inc, as announced in early November, is progressing, and that it is confident it will complete the transaction before the end of the first quarter of 2024. Shares will remain suspended while the transaction is ongoing. Says, nothwithstanding the combined market capitalisations of the target and the company being anticipated to be less than GBP30 million, as Amala was deemed to be a cash shell immediately before December 3, 2021, it falls within the scope of the transitional provisions according to listing rules. Also notes there remain "a number of regulatory consents unrelated to the post transaction market capitalisation that are normal for a transaction of this type that need to be obtained prior to the proposed reverse rakeover being concluded." Says: "Therefore, there can be no guarantee that the proposed reverse takeover will be concluded". Says it will update the market in "due course".

Read more
9 Nov 2023 13:47

EARNINGS AND TRADING: MetalNRG hails Gold Ridge findings

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
31 Jul 2023 21:57

EARNINGS SUMMARY: Great Southern loss widens, Walkers Crips profit up

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more
9 May 2023 18:40

IN BRIEF: Amala Foods reviews reverse takeover options

Amala Foods PLC - cash shell - Further to announcement of April 19, says the company has been reviewing several potential transactions and has prepared a shortlist of reverse takeover opportunities in various sectors including healthcare, natural resources, and technology. Points out it has sufficient funding to undertake a reverse takeover.

Read more
19 Apr 2023 12:28

Amala Foods shares re-admitted as considers potential takeover

(Alliance News) - Amala Foods PLC on Wednesday confirmed that its shares have been re-admitted to trading on the Standard segment of London's Main Market, but it is considering a reverse takeover so a suspension may loom.

Read more
31 Mar 2023 17:22

TRADING UPDATES: Parkmead profit hurt by impairment; Shearwater warns

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
31 Mar 2023 14:33

EARNINGS SUMMARY: Dignity swings to loss; Restaurant Group loss widens

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
17 Mar 2023 14:01

Amala Foods cancels agreement with Terra Rara on lengthy due diligence

(Alliance News) - Amala Foods PLC on Friday said that it has terminated a proposed transaction with Terra Rara UK Ltd, after identifying administrative issues with the company's mining assets through due diligence.

Read more
23 Dec 2022 15:47

UK shareholder meetings calendar - next 7 days

Monday 26 December 
no events scheduled 
Tuesday 27 December 
Zambeef Products PLCAGM
Wednesday 28 December 
Evrima PLCAGM
Greencare Capital PLCGM re proposed name change
Lift Global Ventures PLCGM re proposed expansion within the energy sector
Thursday 29 December 
Amte Power PLCAGM
ADVFN PLCAGM
Genedrive PLCAGM
Hotel Chocolat Group PLCAGM
Lekoil LtdEGM re proposed settlement and name change
Online Blockchain PLCAGM
PetroNeft Resources PLCAGM
SkinBioTherapeutics PLCAGM
Friday 30 December 
Amala Foods PLCAGM
Apollon Formularies PLCAGM
Europa Metals LtdGM re Denarius transaction
Goldplat PLCAGM
Ncondezi Energy LtdAGM
Ross GroupAGM
Secure Property Development & Investment PLCAGM
Time Out Group PLCAGM
  
Copyright 2022 Alliance News Ltd. All Rights Reserved.

Read more
23 May 2022 14:41

Amala Foods agrees to buy rare earth elements company Terra Rara UK

(Alliance News) - Amala Foods PLC on Monday said it has agreed to buy Terra Rara UK Ltd wholly in shares.

Read more
16 Mar 2022 11:35

IN BRIEF: Amala Foods says will complete rare earths acquisition soon

Amala Foods PLC - Jersey-based food technology firm formerly known as BigDish - Says sales and purchase agreement for transaction with Terra Rara UK Ltd will be executed "in the near term". This follows previous announcements that it will repurpose its public listing with the acquisition of Terra Rara, a rare earth elements company.

Read more
10 Mar 2022 10:50

SMALL-CAP WINNERS & LOSERS: James Fisher withholds shareholder payout

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

Read more
2 Mar 2022 19:27

TRADING UPDATES: Eden Research, Abingdon guide for weaker results

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
2 Mar 2022 13:48

CORRECT: SMALL-CAP WINNERS & LOSERS: McKay Securities surges on offer

(Correcting 2020 revenue figure for Foxtons.)

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.