Prezzo, the pizza and pasta restaurant served up stellar results for the year to January. Turnover more than doubled to £22.4m and pre-tax profits jumped almost eightfold to £4.1m. Having raised £9.3m in June via a placing, the company continued with its expansion plan, rolling out 24 new restaurants, taking its total to 48. The company still has £7.9m in cash left. According to chairman Michael Carlton, trading at its current sites has been 'encouraging' since the year end. A further three sites were opened, with five more pencilled in for the near future. Prezzo is also branching out by launching a new brand of restaurant, the Mexican-style Chimichanga. So far, Chimichanga is operating at three sites. A final dividend of 0.25p has been recommended and it is proposed each 20p share will be subdivided into four shares of 5p. Run and majority owned by the Kaye family, which was behind the successful ASK chain of restaurants, Prezzo is, and looks to continue to be, in good shape. Since our 'hold' recommendation in April, the shares are up 133.5% to 226.5p. House broker Evolution Securities had forecast pre-tax profits of £4.4m for 2006 but this will no doubt be revised. Top-slice but keep some of the shares back for future growth.