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Prezzo plans 30 openings after reporting 15% rise in revenue

09 April 2014 by
Prezzo plans 30 openings after reporting 15% rise in revenue

Prezzo has posted a pre-tax profit of £18.4m and revenue increase 15% to £166.5m for 2013.

The casual dining chain reported that it had made steady progress over the year to 29 December 2013, and now had plans for 25 to 30 more openings in 2014.

It opened 28 restaurants in the period, and closed one, taking the total to 237. They include 194 trading as Prezzo, 37 Chimichanga and four of the new Cleaver concepts.

Launched last summer, the Cleaver concept offers chicken, ribs and burgers from an open grill kitchen. The first site was in Cobham, Surrey. It has been followed by three more in Leatherhead, Wokingham and Oxford.

Chairman Michael Carlton said: "Finally, there are indications that the vital signs of the UK economy are improving, and therefore having delivered a continuous record of growth throughout its recent period of difficulties, there is every reason to be positive about our future performance. We have enjoyed an encouraging start to the year and with a strong site pipeline in place, the board is confident of further success in 2014."

Prezzo is to open 16 new restaurants in the run up to Christmas >>

Prezzo expands Cleaver brand >>

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