News

UK's Prezzo posts nearly 20 percent lift in profits

September 6, 2011

Prezzo, a 172-unit pizza chain in the United Kingdom, has reported a 17 percent lift in profits for the first half of the year.

According to the UK Press Association, the chain's profits in the first six months, ending July 3, were £59.6 million (about $95.2 million). Prezzo opened seven new units during that timeframe, and closed two.

Analysts estimated the new net openings boosted the company's sales by 5 percent in the period. Prezzo anticipates opening a total of 20 new units by the end of 2011.

CEO Jonathan Kaye added that the chain's value items and an investment in online offerings also added to the positive performance.

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