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The Caterer

Prezzo profits rise four-fold as expansion continues

10 September 2004
Prezzo profits rise four-fold as expansion continues

Rapidly expanding restaurant group Prezzo has seen profits more than quadruple since this time last year.

Pre-tax profits for the 26 weeks to 27 June were £1.34m, against £305,000 at the same point in 2003.

Turnover more than doubled to £9.1m, up from £4.2m in 2003.

During the period, Prezzo was operating 35 restaurants.

It has opened five more since the end of June and has others under construction.

In July it opened Chimichanga in Braintree, Essex, the first of its restaurants specialising in Mexican food. Early trading, it said, was encouraging.

Prezzo sold two under-performing outlets during the period.

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