Various Eateries PLC - owner, developer and operator of restaurant and hotel sites in the UK - Reports revenue of GBP16.5 million for the financial year to the end of September compared to GBP25.6 million the year earlier. As a result, pretax loss widens to GBP14.4 million from GBP12.0 million the year prior. Current trading is being hurt by the continued Covid-19 restrictions with all the company's sites currently closed.
"There will inevitably be volatility as we emerge from the pandemic, but we are expecting a strong bounce back in the sector once restrictions are lifted and look forward to driving growth as soon as circumstances permit," says Executive Chair Andy Bassadone.
Current stock price: 88.21 pence, up 8.2% on Thursday
Year-to-date change: up 28%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Various Eat. (VARE)