Tasty, the operator of the Dim T and Wildwood chain of restaurants, has this morning reported a loss of £2.08m – following a £1.85m writedown of the group’s estate. Unveiling its preliminary results for the 52 weeks to 27 December 2009 the company, which is led by chief executive Johnny Plant, said it had experienced a 15% improvement in revenue to £9.18m, despite the “adverse economic climate”. The operating loss excluding pre-opening costs and non-trading items was £84,000 – down from £221,000 the year before. The group now has 11 restaurants in operation – eight Dim Ts and three Wildwoods. Its Maidstone unit was re-branded as a Wildwood and re-opened in April and in June a new Wildwood was opened in Hornchurch. It has also just exchanged contracts for a new unit in Chelmsford which is expected to open in August 2010. Tasty said that its net cash outflow for the period before financing was £752,000, down from £2.6m, which was largely represented by capital expenditure on the opening of one site and rebranding of another. Cash flows from operating activities increased to £359,000. It had net cash and cash equivalents at the end of the year of £1.85m. Keith Lassman, the company’s chairman, said: “2009 has proved to be a year of consolidation. The group has continually looked to update the menus of both the DimT and Wildwood brands and for much of the year has successfully offered promotions to encourage growth in sales. “Management have continued to focus on food and labour margins throughout the year and these continue to be kept under constant review. This has resulted in an improvement in the trading position of the group despite the adverse economic climate in the United Kingdom, when excluding non-trading items.” Commenting on the writedown, Lassman added: “The impairments arise as a result of the board's detailed evaluation of all units in order to ensure that each unit is shown in the group's accounts at a conservative book value having regard to both capital and economic value considerations, particularly in the current prevailing economic market.”