Fishmonger and restaurant chain FishWorks has warned that pre-tax profit for the year to 31 July will be below market expectations.

A number of sites opened between July 2005 and October 2006 had been on the small side, limiting sales, and a delay in opening a new site had affected profit, the company said in a trading statement.

“We now feel that a short period of consolidation is the correct choice to maximise profit generation,” said executive chairman Roy Morris.