UK growth helps Nando's sales hit £1bn

By Sophie Witts contact

- Last updated on GMT

Nando's sales hit £1bn

Related tags: Casual dining, Chicken, Restaurant

The UK’s love of peri-peri chicken has helped Nando’s worldwide sales surpass £1bn.

Recent filings show the South African chain reported an 8.4% rise in revenue to £1.1bn in the year to 24 February 2019.

This was driven by growth in ‘key markets’ including the UK, where revenue rose from £722m to £779m and pre-tax profits jumped 13% to £96m.

Nando’s opened 31 UK restaurants during the year to reach a total of 422 sites, all of which it says delivered ‘favourable results’.

The chain says it plans to continue opening sites ‘at a similar rate’ going forward and remains confident in a tough UK trading climate.

Writing in its results, Nando’s UK finance director James Fowler says: “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.”

Nando’s launched its third express format store, Nando’s Nino,​ in London last month after trialling the takeaway concept in 2018.

The group's global losses widened to £38.3m from £36.1m due to investments in expanding the business.

The chain, owned by South African investment firm Yellowwoods, was founded in Johannesburg in 1987 and opened its first UK restaurant in Ealing in 1992.

In February 2019 there were 936 company-owned and franchise-run Nando's restaurants in 23 countries worldwide.

Related topics: Business

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