Nando's revenue jumps 13% following worldwide expansion
It rose £103.7m, driven by increased sales associated with new restaurants.
In a period which saw 47 net new sites opened worldwide, the company reported a pre-tax loss of £12.9m compared with a profit of £19.1m the year before.
Nando's director C.F. Luyckx said: “These results include revenue and costs from smaller developing overseas markets which have restaurant expansion programmes in place. The businesses operating in overseas markets have not fully matured and the number of restaurants in these markets still need to reach critical mass. We expect significant growth potential in these markets and will continue to invest in opening new restaurants.”
The number of restaurants in operation increased from 861 to 908 during the period, a total made up of 620 owned and 241 franchised sites spread out over five continents.
