Restaurant group Tasty floats to expand Dim T chain

04 July 2006
Restaurant group Tasty floats to expand Dim T chain

Pan-Asian restaurant chain Tasty has floated on the Alternative Investment Market, raising £1.75m to fund expansion of its oriental Dim T chain.

The company, which includes Ask and Zizzi creators Sam and Adam Kaye on its board, has three restaurants and plans to open another six by December 2007.

After today's successful placing at 52p per share, the company's entire issued share capital is valued at £11.75m.

In early morning trading, the group's shares were trading at a premium of 64% at 85.5p each.

Chief executive Jonny Plant said: "People are increasingly adventurous in terms of eating out and Dim T provides a genuinely different, ethnic dining experience and an alternative to existing restaurant concepts for our customers."

Plant has previously worked with Catey award-winning restaurateur and Wagamama founder Alan Yau on commercial operations, new projects and property.

Dim T has signed leases on three new sites: Tunbridge Wells in Kent, which opens in July; London's Gloucester Road, which opens in October; and Loughton, Essex, which will launch later this year.

The business was established in 1993 and there are currently Dim T restaurants in London's Hampstead, Highgate and Charlotte Street.

In the 12 months ended December 2005 the group had turnover of £2m and an operating profit of £110,000.

Five new outlets for Dim T >>

Adam and Sam Kaye plane to take Dim T national >>

Alan Yau to open Spanish restaurant >>

By Chris Druce

Get your copy of Caterer and Hotelkeeper every week -

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking