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).
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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
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