(Alliance News) - Tasty PLC on Thursday said it expects to achieve current market forecasts for 2019 as it has traded in line with expectations in the final quarter.
The stock was trading 28% higher at 3.50 pence per share on Thursday morning in London.
In addition, the company said it has sold its Dim T restaurant site for GBP2 million due to increasing property and labour costs, and for the purpose of strengthening its balance sheet.
The restaurant owner & operator said the proceeds from the sale will go towards paying off its remaining bank debt, funding its working capital and selected restaurant refurbishment plans.
Dim T restaurant, which is located near London Bridge, reported earnings before interest, taxes, depreciation, and amortization of GBP106,000 for 2019.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Tasty (TAST)