Updates

Prezzo

May 2013

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.

Good to see the shares finally showing a clean pair of heels (we had expected it last year when we made them a NAP) and extend the gain since our recommendation in June '09 at 30p 239%. Results for the year showed sales up 17% to £144.5m, helped by a very strong H2 largely due to stronger sales post the Olympics (H1 average sales per unit - 0.3% versus H2 +2.5%) and less margin erosion during H2. Adjusted pretax profit was up 11% to £18.3m for eps up 13% to 5.9p. During the year, 31 restaurants opened and after three closures and five disposals left 210 units. Most trade on the Prezzo brand but the company has also found a useful second brand in the form of its Mexican brand Chimachanga, which comprised 13 of the ...

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SuperGroup - International/Internet will be 60% of sales by 2015

Dialight - Lighting division showing 50%+ growth

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 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 - 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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