Updates

Prezzo

October 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.

A relatively brief interim statement showing that Prezzo's expansion continues apace with a net five restaurants opened in the first half and a further six acquired from Caffe Uno to take its estate to 165. As it was, the numbers to end June came in ahead of broker expectations. Overall sales were ahead 23% to Â£59.6m and pretax profit was up 17% to Â£7.3m (for eps of 2.2p). Gross margins were down a tad from 14.4% to 14% largely as a result of higher food prices. Net cash at the period end was Â£6m and Prezzo expects that for the year as a whole it will open 20 units (seven already launched since then).Broker Numis forecasts Â£16.1m pretax for the full year for eps of 5p. That puts the shares on around 6.1x EV/EBITDA, whic ...

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CSF Group

Photo-Me - Bumper year in sight?

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 - 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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