Ask wants a slice of the big time
12 April 2012
ALTERNATIVE Investment Market-listed pizzas and pasta chain Ask Central is warming up for promotion to the main stock market. Reporting a 30% surge in full-year profits, chief executive Adam Kaye said: 'AIM has been amazing for us, but we would get a wider shareholder base if we moved up. It is something we are just starting to consider'.
The 126-strong chain of Ask and Zizza restaurants eliminated net debt last year, funding its 24 new openings from cashflow. Kaye said he had no plans for acquisitions but would open 25 more restaurants this year.
Pre-tax profits in the year to 30 December were £13.6m on turnover of £78.9m compared with £10.4m earned on £61.1m of sales a year earlier. The total dividend rises to 0.5p a share from 0.425p.
