Taste Holdings: profits as skinny as the lattes
Taste, trying to make a success of Starbucks and Domino’s, needs to spend money – a lot – to make money
Cleaning up Taste’s kitchen has certainly not come cheap. And the few retail shareholders it has left after a succession of rights offers may have to wait another three years before the company hits "critical mass".
Under the new management of interim CEO Tyrone Moodley and his permanent replacement, Dylan Pienaar, Taste — which owns the local rights to global food giants Starbucks and Domino’s Pizza — posted a R318m loss from continuing operations last week...