PIZZAEXPRESS GETS AHEAD

AFTER a busy year reversing into a stock market-listed company, subsequent management changes and a management buy-out, PizzaExpress has served up a pre-tax profit of £3m for the six months to 31 December 1993.

Included in these figures was a profit of £858,000 from the sale of the computing business which PizzaExpress became part of after the listing.

Although the profit figure cannot be compared with the figure of £55,000 for the same period in 1992, when the business was different, PizzaExpress has still produced a creditable performance.

Since David Page, formerly PizzaExpress's biggest single franchisee, became managing director, the company has tackled cost controls and has boosted the profit margin from 13.5% to 17.9%.

Mr Page said that company-owned restaurant turnover had improved by 17%. Franchise turnover was 11% ahead of 1992.