Prezzo fires up its profits after launching chicken and rib brand

PREZZO yesterday announced a 15 per cent increase in revenue for the year to December 2013, thanks to the launch of its new Cleaver branded restaurants.

The company said growth had been boosted by the launch of its new open-grill chicken and ribs chain.

Prezzo has so far launched four new Cleaver restaurants in Surrey and Oxford, with plans to open more in the future.

Chairman Michael Carlton said the improving economic conditions, which are encouraging people to go out and spend, are also playing their part. He said in a statement: "There are indications that the vital signs of the UK economy are improving, and therefore having delivered a continuous record of growth throughout its recent period of difficulties, there is every reason to be positive about our future performance.”

The restaurant chain’s adjusted pre-tax profits were up 11 per cent to £20.4m from £18.3m 2012.

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