Tasty, the AIM-listed restaurant operator of the Dim T and Wildwood brands, plans to open 20 further sites under its core Wildwood brand over the next 20 months, and hasn’t ruled out adding to its six-strong Dim T chain.
Jonny Plant, joint chief executive, told M&C Reportthat the group hoped to add a further “five or six Wildwoods by the end of this year” and then a further 15 in 2014.
Plant said that although the group would like to concentrate its expansion plans on the South East, it was inevitable it would have to look further afield.
The rollout would also include a small number of sites under sub brand Wildwood Kitchen, which is a pared down take on the group’s core format that doesn’t include a grill and is aimed at lower food costs.
Plant said: “We are ready to ramp up Wildwood further. We are very happy with where the format is at present and the initial reaction to the Kitchen, which was born out of the need to differentiate two sites in central London.”
He said that the group, which counts Sam and Adam Kaye as shareholders, had received no approaches or “gone looking for any” in regards to Dim T.
“Dim T is a well-oiled operation now and it is not inconceivable that we will look at expansion opportunities for the brand in further London locations.”
Yesterday, the group reported a rise in full year pre-tax profit and said that current trading was in line with expectations.
Revenue for the year to 30 December 2012 was up 33% on last year to £19.3m, while pre-tax profit stood at £1.55m (1 January 2012 - £1.06m).
It opened five new Wildwood restaurants in the year: at Epping in March; Market Harborough in April; Ely and Bow St both in May and Canterbury in October. A further opening under its core brand is already lined up for Peterborough’s Cathedral Square this summer.
