Upbeat Prezzo plans to open 20 new restaurants

City A.M. Reporter
BRITISH pizza restaurant chain Prezzo reported a 17 per cent higher first-half profit yesterday as it continued to open new restaurants and said it expected positive results for the year.

The company currently has 168 restaurants, compared with 145 last year. Earlier this year it launched a new range of pizza, designed by Italian chef Aldo Zilli.

Prezzo, which opened seven new restaurants during the first half and closed two, said its current trading was in line with expectations.

The company expects to have about 20 new restaurants by the end of the year. For the January-June period, adjusted pre-tax profit was £7.3m, compared with £6.2m a year ago.

Revenue rose 23 per cent to £59.6m. Overall branch profit margin was 15 per cent, compared with 14.4 per cent last year.