A strong first quarter performance buoyed first-half trading at restaurant chain Prezzo (PRZ). Indeed, in the six months to end-June robust revenue growth helped adjusted pre-tax profit - which excludes a £1m one-off charge - to grow 16 per cent to £9.8m.
Another round of new site openings helped to support that growth profile. Nine new restaurants opened in the period - seven under the Prezzo brand and two Chimichanga restaurants - while two sites closed. By the end of the half, this left 244 trading restaurants and one further site was opened after the period ended. The group actually opened its 200th Prezzo site this year, in York, and management plans to open a further 25 new restaurants during 2014. New sites in Newcastle, Telford and Newquay are due in the second half.