• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Tasty shares surge 14% on £2.5 mln insurance settlement

by January 2, 2025
written by January 2, 2025

Investing.com — Shares of Tasty Plc (LON:TAST) surged over 14% on Thursday after the company secured a £2.5 million insurance settlement, but it also issued a warning regarding “disappointing” trading performance during the critical Christmas period.

The Group, which operates restaurants in the casual dining sector, said in a statement that it had reached a full and final settlement with its insurer for £2.5 million. 

After accounting for creditor costs and legal expenses, the net amount payable to Tasty will be about £1.5 million. 

The settlement relates to a claim for losses arising from a breach of an insurance contract in 2020. 

The insurer is expected to pay the settlement sum within 21 days, providing a much-needed financial cushion for the company.

Tasty also cautioned about the performance of its business in the latter half of 2024. In a stock exchange filing, the company said that trading had been particularly challenging during the key December period, which is typically crucial for the casual dining industry. 

The casual dining market has been grappling with various headwinds, including reduced consumer confidence, rising inflationary pressures on food costs, and increased labor costs due to the rise in the National Minimum Wage and upcoming increases in National Insurance contributions for employers in April 2025.

Tasty had already reported a period of restructuring and operational changes in its interim results in September 2024, and these challenges were compounded by the disappointing festive season. 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
European stocks begin 2025 trade with modest gains
next post
Nvidia’s market value gets $2 trillion boost in 2024 on AI rally

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Lawyer group urges overhaul of US bank charter...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 9, 2025
    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

      August 9, 2025
    • Trump demands resignation of Intel CEO over alleged China ties

      August 7, 2025
    • Claire’s, known for piercing millions of teens’ ears, files for Chapter 11

      August 7, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (592)
    • Stock (6,426)

    Latest News

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more
    • Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

    Popular News

    • Meta partners with James Cameron’s tech venture to boost mixed reality content
    • US stock market: Q4 earnings season preview

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy