Updates

Prezzo - Expects to open 8-10 restaurants this year

May 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Prezzo stand [30%] higher than when we added them to the Sharewatch Growth Portfolio just two months ago. Most of the gain has followed excellent 2009 results. Revenues increased 6% to £91m and adjusted pretax profit was up 7% to £12.3m, which was at the top end of consensus expectations, with eps of 3.7p. Operating margins improved from 13.1% to 13.4%. In 2009, Prezzo opened just two new units but this slowdown in new openings gave it time to review its existing estate and exit four unprofitable leases, as well as refurbish 12 of its units. At the year end it operated from 138 restaurants including 11 freeholds.Net cash at the year end was £15.2m after spending £0.9m in December o ...

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Prezzo (May 2012)

Prezzo (October 2011)

Prezzo - Buys six leasehold units for Â£0.55m (May 2011)

Prezzo (October 2010)

Prezzo - Buys 11 restaurants for Â£3.1m (September 2010)

Prezzo - To open 10 restaurants versus 2 last year (February 2010)

Prezzo - Resumes restaurant opening programme (October 2009)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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