Profits at Milano pizza restaurants fall 80% to €2.34m

Agenbite Ltd's new accounts show that Milano's revenues increased by 5.5% last year, from €25.48m to €26.9m

The chief factor behind Milano's drop in profit was a €1.27m non-cash gain made up of the reversal of previous impairments compared to a €7.53m gain under that heading in 2022. Picture: iStock

Pre-tax profits at the company that operates the Milano chain of pizza restaurants last year declined by 80% to €2.34m in the face of ‘sector-wide headwinds'.

In new accounts filed by Agenbite Ltd, they show that revenues last year increased by 5.5% from €25.48m to €26.9m.