Taste’s profits increase

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Taste Holdings (TAS) said on Friday that its group system-wide sales were up 41% for the month of December 2012 when compared with December 2011.

Comparative group system-wide sales for the four month period since the last reported half-year results increased 58%‚ when compared to the same four months in 2011.

System-wide sales in the Jewellery division for the period 1 September to 31 December 2012 increased 10%‚ when compared to the same period in 2011‚ while same store sales increased 11%.

For the same four month comparative period‚ same store sales in franchise and corporate stores increased 10% and 14%‚ respectively.

The Food Services division´s sales increased substantially in December 2012‚ as expected‚ with the revenue from the new distribution business which began in August 2012. This business‚ still in its start-up phase‚ continues to incur start-up costs and is still in the process of reaching its operational efficiency targets. the company noted.

System-wide sales in the Food Franchising division for the period increased 81% when compared to the same period in 2011‚ while same-store sales were flat. The division built 52 new outlets in the four month period since 1 September 2012 and is expected to open a further 10 outlets prior to year end.

At 2.20pm Taste’s share price was up 20 cents‚ or 5%‚ at R4.20. - I-Net Bridge

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