Restaurant chain Nando’s has surpassed £1bn in global sales helped by the UK’s love of Peri-Peri chicken.
For the first time the restaurant chain worldwide sales soared by 8.4% to £1.1bn for the year to 24 February driven by UK growth, but excluding South Africa.
Due to increased “sales and restructuring of central costs” UK’s pre-tax profits rose by 15% 5o £96m in the period.
Global losses amounted to £38.3m compared to £36.1m due to expansion costs, as the company has opened 31 more restaurants in the UK bringing the total portfolio to 422 branches.
James Fowler, Nando’s UK finance director said, “The company operates in a very competitive and fragmented market which is constantly bringing new concepts and products to the expanding customer base however, we believe Nando’s offers a unique product that gives us a competitive advantage.”
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