Profits soar at Prezzo

by Kerstin Kühn, Thursday 12th April 2007 10:47

Profits at pizza and pasta restaurant group Prezzo have soared in its fourth year of trading and the company said it is in “great shape” to grow further this year.

On the back of a 45% growth in turnover to £54.2m for the year ending 31 December 2006, pre-tax profit rose 42% to £8.7m from £6.1m a year ago.

The restaurant operator said sales grew 45% to £54.2m and added that trading in the current year is in line with its expectations.

Chief executive Jonathan Kaye said: “These are encouraging results and the company is in great shape to progress further this year.”

During the year Prezzo opened 27 new restaurants, bringing its portfolio of trading eateries to 99 with a further eight being built.

Prezzo also announced the appointment of Alan Millar to the role of finance director. Millar, who was previously director and analyst for Dawnay Day Corporate Broking, takes up the role with immediate effect.

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By Kerstin Kühn

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