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Prezzo set to open 30 restaurants in 2013

04 | 09 | 13

Prezzo has announced it is on track to open 30 restaurants by the end of the current year, after reporting an increase in profits.

Locations include Windsor, Oxford, Leeds and Wembley. The company currently operates 222 eateries, including 181 Prezzo and 33 Chimichanga businesses. It also oversees the smaller Caffe Uno and Cleaver chains.

The news may be of interest to catering kitchen equipment suppliers as it shows potential business. Strong success reported by the company also hints at growth in the industry.

The restaurant group reported its pre-tax profits for the first half of the year increased by 12 per cent to £8.5 million. Revenue similarly rose by 17 per cent to £79.7 million.

During the first half of the year, seven new restaurants were opened - split between three Prezzo operations and four Chimichanga locations - and one was closed. Since June, it has already opened another six restaurants - four restaurants were opened in August.

As a sign of the company's growth, it owned 194 dining businesses at the end of last year. Within six months that number has grown by 28.

Chairman of Prezzo Michael Charlton said: "We are very pleased with the first half performance and with our opening programme comfortable on track and providing some exciting opportunities over the remainder of the year, we remain confident of delivering a satisfactory outcome for the year as a whole."

Prezzo's announcement comes shortly after rival business The Restaurant Group (TRG) reported success and restaurant openings of its own for the first half of the year. The company - well known for operating brands such as Garfunkel's - announced it will be launching between 15 and 19 new Frankie and Benny's restaurants alongside three to four Chiquita's.

Both large restaurant operators have reported success and expansion; members of the food and catering suppliers industry can find good news in this, as it suggests positive growth and stability for the sector.ADNFCR-16001031-ID-801633521-ADNFCR

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