Updates

Prezzo - Buys six leasehold units for Â£0.55m

May 2011

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.

Having bought 11 Caffe Uno restaurants for Â£3.1m cash last September, Prezzo has taken a further bite, buying six more for Â£0.55m cash. All of the sites are to be closed and refurbished before re-opening under one of Prezzo's existing formats. During the month Prezzo also released sparkling results for 2010. Revenues were ahead by 15% to Â£105m and adjusted pretax profit was up 12% to Â£14.4m, at the top end of consensus expectations, with eps of 4.3p. Operating margins improved slightly to 13.6% as the operational gearing benefit of higher average sales offset higher labour, food and pre-opening costs. Taken together with the 11 units previously bought, in FY10 Prezzo opened 22 restaurants without any recours ...

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Norseman Gold

Character

Prezzo - 126.5p cash offer from TPG (December 2014)

Prezzo - Early stage bid talks with ASK-owner (November 2014)

Prezzo - Risk to forecasts on the upside (October 2013)

Prezzo (May 2013)

Prezzo (May 2012)

Prezzo (October 2011)

Prezzo (October 2010)

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

Prezzo - Expects to open 8-10 restaurants this year (May 2010)

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

Prezzo - Resumes restaurant opening programme (October 2009)

Prezzo - Value for money consumer proposition (June 2009)

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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