, UK

Prezzo bounces back after closing 46 restaurants

This comes after a £30.09m loss in 2022.

Prezzo reported a net profit of £7.5m for the 52 weeks ending 31 December, bouncing back from a £30.09m loss the year before.

The group attributed its growth for the year to its menu innovation and pricing strategies. The group also closed 46 unprofitable sites which significantly reduced its overhead costs in April 2023.

Revenue for the year went down to £110.4m from £134.7m the year before. The group then launched its Time & Attendance strategy to improve productivity. Together with increase in menu prices and cost-saving measures, gross profit margins increased from 35.6% to 40.2%.

Adjusted EBITDA was at £2.4m, an improvement over the £4.8m loss last year.
 

Follow the link for more news on

Join QSR Media UK community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Velvet Taco tackles brand identity ahead of London launch
The brand wants to be known for its inventive menus and its made-from-scratch tacos.
New concepts
Larks Vs Owls: A cross-country comparison of QSR traffic
Data reveals that the British like to have a hearty breakfast whilst the French often go for late-night dining.
Research