Prezzo beats expectations
Restaurant group Prezzo says profits beat market expectations for the 52 weeks to the beginning of January as it continued to open new restaurants.
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Zhang Shengwei: the godfather of the vape industry
Profile Zhang Shengwei quietly grew his online vape shop and now gives Big Tobacco a run for its money. Can he survive the backlash from regulators?
By Jane Lewis Published
-
Tomorrow’s Asian giants while they are still small companies
Opinion Nitin Bajaj, portfolio manager of the Fidelity Asian Values trust, picks three Asian companies to invest in.
By Nitin Bajaj Published