The Caterer

Prezzo expansion drives turnover and profit growth

07 September 2005
Prezzo expansion drives turnover and profit growth

Restaurant group Prezzo continued its rapid expansion in the six months to 3 July, with turnover and profits soaring.

The company now has 60 restaurants, up from 48 at the start of 2005. Since the beginning of July it has opened another five and currently has more under construction.

As of 2 July the company had £4m set aside to fund future openings.

Other high-street operators, such as Whitbread, have reported tough trading conditions in recent months, but Prezzo chief executive Jonathan Kaye said current sales remained in line with expectations. He added that he was confident about future business.

In July 2004 the company launched its first Chimichanga restaurant, in Braintree, Essex.

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