Prezzo aims to triple thriving estate

By Paul Wootton

- Last updated on GMT

Related tags: Restaurant

Prezzo believes it can grow to three times the size of its current estate
Prezzo believes it can grow to three times the size of its current estate
Italian casual-dining chain Prezzo plans to open 10 restaurants this year and believes it can eventually grow to three times its current size

It now operates 146 sites, but chief executive Jonathan Kaye said he saw opportunities for expansion in smaller towns.

“To some extent we’ve built the business on trading in smaller locations with lower rental units and there are a lot of them yet to realise. And there are some major city centres we’re not in yet: Birmingham, Liverpool, Manchester, for example,” he explained.

While the company opened no new Prezzos last year, its 2009 results, which it unveiled recently, showed a strong performance, with pre-tax profits up 12 per cent to £12.9m, and revenues increasing to more than £90m in the year to the end of December.

“We are delighted that Prezzo has performed so strongly and we’re happy with how we’re trading right now,” added Kaye. “When I see some of the competition that have businesses three times the size of ours, I don’t think there’s any reason why we shouldn’t get to that size ourselves.”

The company also owns the nine-strong Chimichanga restaurant brand. Kaye plans to grow the brand to at least 30 sites

Related topics: Business

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