Restaurant chain Prezzo plans to open a further 25 outlets this year after smashing City forecasts for profits in 2012 despite the austere consumer climate.
The pizza and pasta firm opened 31 restaurants during 2012 as it grew revenues by 17 per cent to £144.5 million. Adjusted profits of £18.3m were 5 per cent ahead of analysts’ forecasts and 11 per cent better than a year earlier, even though the period was impacted by summer distractions such as the Olympics, Euro 2012 and the Queen’s Diamond Jubilee.
Its expansion plans will add about 375 more staff to its total workforce of 3,000.
Chief executive and co-founder Jonathan Kaye said a combination of opening in good locations, training, marketing and its food offers drove the out-performance.
Prezzo currently has six branches in Scotland.