Restaurant group Prezzo says profits beat market expectations for the 52 weeks to the beginning of January as it continued to open new restaurants.
Profits before tax came in 14% ahead of 2010 at £16.4m; the market consensus had been for £16.08m. Revenues were 18% higher than the prior year at £123.9m, again beating expectations of £119.17m.
During the period, the firm opened 27 new restaurants (2010: 26), acquired nine (2010: 11) and closed two (2010: three).
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Prezzo will pay a dividend of 0.25p per share, slightly below expectations of 0.26p.
Prezzo shares have risen 21% since the beginning of 2012.
BS
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
