Prezzo's profits hit £7.3m
Casual Italian dining chain Prezzo has seen its pre-tax profit jump 17% to £7.3m, as revenue also climbed 23% to £59.6m for the half year to 3 July 2011.
Overall branch margin for the business, which now has 172 restaurants across the country, now stands at 14%.
Chairman Michael Carlton sounded a note of caution over the uncertainty of the general economy and consumer confidence but said he still expected a "positive outcome for 2011 as a whole".
The business opened seven new restaurants over the period and closed two. It has so far launched seven new restaurants in 2011.
Last year saw the business buy several sites from Paramount restaurant group, as well as the Caffe Uno name, which it is in the process of trying to resurrect. Prezzo is currently operating two revamped Caffe Uno sites, with a further three in the pipeline.
- For a full interview with Prezzo's chief executive Jonathan Kaye, pick up next week's copy of Caterer and Hotelkeeper (16 September).
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By Neil Gerrard
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