Prezzo, the Jonathan Kaye-led group, has this morning reported a 14% increase in adjusted EBITDA to £12.6m for the 26 weeks to 30 June 2013 and said it remained confident of “delivering a satisfactory outcome for the whole year”.
Revenue for the 222-strong operator climbed 17% to £79.7m, while adjusted pre-tax profit increased 12% to £8.5m.
The group opened seven new restaurants (three Prezzo and four Chimichanga) during the half year, against 12 in 2012 and closed one. Openings included its first in Northern Ireland.
It has opened a further six sites since the end of June and said that its pipeline of openings over the next 18 months was well developed. It plans to open in Windsor, Leeds, Oxford and Wembley during the second half of the year and anticipates opening approximately 30 new restaurants in 2013.
Chairman Michael Carlton said: “We are very pleased with the first half performance and with our opening programme comfortably on track and providing some exciting opportunities over the remainder of the year, we remain confident of delivering a satisfactory outcome for the whole year.”
