Updates

Prezzo - Gain to date: 290%

November 2013

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.

Since our last update the shares have spiked to a high of 134p and after the recent pull-back remain well ahead of our original buy price of 29p from April 2009. The upward momentum reflects strong interims, which showed revenues rising 17% to Â£80m while pretax profit lifted 12% to Â£8.5m. Eps rose 15% to 2.8p. Operating profit margins fell 0.45% to 10.2% but should stabilise as Prezzo is not exposed to any energy inflation (locked into medium term contracts) and is seeing gentle 2-3% food cost inflation. The group opened seven new restaurants in the period (three Prezzo, four Chimichanga) and closed one unit, leaving 216 units trading (2012: 193), comprising 181 Prezzo and 33 Chimichanga. So far in the second half it has opened ...

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Crest Nicholson - Better than expected reservation rates

Prezzo - Accepts 126.5p offer (December 2014)

Prezzo - Receives bid approach (November 2014)

Prezzo - Time to top-slice some profit (June 2014)

Prezzo - Shares have gained a massive 290% (June 2013)

Prezzo - 15 restaurant openings (October 2012)

Prezzo - Restaurant operator expands estate by 37% in last two years (May 2012)

Prezzo (February 2012)

Prezzo - H1 ahead of expectations (October 2011)

Prezzo - Fast-growing restaurant chain likely to beat forecasts (September 2011)

Prezzo - Shares storm to new high (May 2011)

Prezzo - 11% eps upgrade (October 2010)

Prezzo - To open 10 to 12 restaurants this year (May 2010)

Prezzo - Shares wake up again (February 2010)

Prezzo - Forecasts upgraded (October 2009)

Prezzo - Restaurant operator sees substantial director buying (May 2009)

Prezzo - Balance sheet remains strong (June 2008)

Prezzo - Slows new openings programme (March 2008)

Prezzo - Results beat expectations (November 2007)

Prezzo - Restaurant owner sees fast roll-out of units (August 2007)

Prezzo - The new Ask Central? (May 2002)

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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