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Tasty PLC swings to loss in fiscal H1

Tasty PLC said its normalized net income for the fiscal first half ended July 3 amounted to a loss of 3 Great British pence per share, compared with 2 pence per share in the first half ended June 28, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £1.4 million, compared with income of £829,380 in the first half ended June 28, 2015.

Total revenue grew 27.8% on an annual basis to £21.8 million from £17.1 million, and total operating expenses increased 53.1% from the prior-year period to £24.0 million from £15.7 million.

Reported net income came to a loss of £2.6 million, or a loss of 5 pence per share, compared to income of £1.1 million, or 2 pence per share, in the first half ended June 28, 2015.