Zizzi Owner Azzuri Group Reports Sale Growth
Wednesday, December 18, 2019
Azzuri Group, which operates brands like ASK Italian and Zizzi, has reported a shrink in losses over the past year. The company reported a pre-tax loss of £16.3m in the year to June 30th 2019, comparing to the £23.4m loss the year before.
The total sales rose by 7% to £299.4m and earnings increased from £37m to £38.1m. The sales increase was driven by 10 new restaurants opening, including Zizzi’s first China site in Shanghai. The brand also did a refurbishment of 29 sites following an investment of £20m.
All four brands within the Azzuri Group have grown like for like sales and increased earnings over the last year. The portfolio is made of 311 UK restaurants.