Prezzo returns to profit in FY results
The group said that since covid restrictions were lifted, revenues and customer satisfaction are ahead of 2019
Nationwide Italian restaurant group Prezzo saw a return to profitability following the removal of all covid restrictions, according to the group’s FY report for the period from 21 January 2021 to 2 January 2022.
Through the first half of 2021, Prezzo, along with the whole of the hospitality sector, traded with significant restrictions in place, during which restaurants operated for takeaway only. Despite this, the group reported revenues of £94.9m with adjusted earnings of £4.2m. Like-for-like sales reported a growth of 8%.
The company said that its H2 performance was ahead of pre-pandemic levels, especially regarding customer satisfaction with a reported Net Promoter Score higher than in 2019.
Prezzo also stated that despite supply chain constraints and inflationary pressures, it has continued to work with its suppliers “to put quality at the heart of its offering”.
Throughout the year the company has also made progress improving the freshness and ingredients of its dishes, an effort recognised with the Best Pizza Restaurant Group award at PAPA industry awards.
Dean Challenger, chief executive, said: “Our priority is to ensure that hospitality is at the heart of the business by continuing to invest in an appealing, trusted, great value and distinctive customer proposition that keeps our customers coming back.
“We are focused on ensuring that the business is in the best position possible to withstand these challenges by having the right portfolio of restaurants, in the right locations, managed by our excellent team with the best of Italian food at the heart of our customer offer.”
