Azzurri recovers strongly in 2022

The ASK Italian, Zizzi and Coco di Mama operator recorded an EBITDA increase of £19.6m on last year to £25m.

Net cash inflow from operations was £27.4m. Liquidity of £36.4m at June 22. Profit for the financial year was £2.7m.

Continued digital development at the group has seen proprietary pay and order at table technology driving improved customer service and restaurant productivity.

Loyalty schemes have been launched at ASK and Coco.

‘Project Zed’ kitchen upgrades have been rolled out to 40+ Zizzi locations; while a new ASK community store opened in Horsham.

A Zizzi retail range launched in 1,200 Tesco stores nationwide.

Coco di Mama now has 190+ points of sale throughout the UK, including franchise partnerships, travel and retail.

A total of £18.4m has been invested in additional growth opportunities, including two new Zizzi openings and 22 Zizzi transformations.

Steve Holmes, CEO of Azzurri, commented: “Azzurri has recovered strongly following the well-documented challenges our industry faced during the pandemic.

“There has been encouraging progress in our core revenue channels, in particular from our restaurant and delivery activities, and we have restarted our capital expenditure programmes with two new Zizzi sites opened and 22 refurbishments.

“We have also expanded into new channels which represent exciting growth areas for the future. Zizzi ranges are now widely available in Tesco stores and Coco’s development has been accelerated into 3rd party delivery kitchens, travel hubs and a successful retail partnership with Sainsbury’s.

“While the economic backdrop remains challenging, we have entered the new year with our people, brands and operations in a strong place. I am confident that this will enable us to successfully navigate the current challenges and deliver growth over the long term.”