Whether the Olympic Games were good or bad for business is a question causing scratched heads in the City.
Today, the chairman of pizza and pasta restaurant chain Prezzo admitted he doesn’t know either.
Speaking as the company unveiled half-year results, Michael Carlton said: “It would be fair to say that 2012, with its Royal Diamond Jubilee celebrations and an extremely successful Olympic Games in London, has been somewhat atypical and greater peaks and troughs in trading have presented both opportunities and challenges for restaurant operators.”
A definite plus has been the opening of a new restaurant at the refurbished London Kings Cross railway station.
Another 11 other outlets were also opened during the period taking sales up 14% to £68 million. Profits advanced 4% to £7.6 million.
Meanwhile, Prezzo’s smaller Mexican chain, Chimichanga, also had a busy opening programme and is now trading from 20 locations.
“By the end of 2012 we would anticipate having opened approximately 25 new restaurants, and with the landmark of 200 restaurants fast approaching, we have been strengthening the Prezzo team and increasing investment in training, marketing and other support functions within the business,” Carlton said.
