La Tasca’s underperformance relative to the market and peer group is ‘unwarranted’, according to Altium Securities, the company’s broker and adviser.
Altium reiterated its ‘buy’ stance on the company, adding that it expected growth at the group to settle to between 15% and 20% for the “foreseeable future” after the current financial year.
Altium put La Tasca at the top of its peer group of Caffe Nero, Domino’s Pizza UK and Restaurant Group for projected second full-year pre-tax profit, up 32.7%.
Caffe Nero was put at 28.1%.
The company is on track for 10 additional sites in the UK, plus a further site in the US in the current year.
In the group’s AGM statement it said that the pipeline for 2006 was “more advanced at this stage of the year than we ever have been in previous years”.