Prezzo, the restaurant company run by Jonathan Kaye, cousin of Adam and Sam Kaye, founders of the Ask chain, has reported full year pre-tax profit before disposals of £470,000, against a loss of £86,000 last year. The result did not include a loss of £740,000 on the disposal of four restaurants, and a further £130,000 impairment charge on an underperforming site. Turnover for the year to 28 December was £10.6m, against £3.8m in 2002, in what was the company’s first full year as an AIM listed operation. During the year the company opened 11 restaurants, including those in Kensington, Brentwood, and Dorking, bringing its estate to 26 sites. So far this year a further eight branches have been opened, with more planned. The expansion was funded in part by two share issues, which raised £8.7m. During the year Kaye was promoted to chief executive from managing director.