Nando’s on Thursday revealed sales of its peri-peri chicken have soared in the UK, but admitted expansion costs have hit profits.
The restaurant chain, owned by South African investment firm Yellowwoods, saw UK revenue in the year to February 25 rise to £722.3 million from £646.8 million.
Total global sales, excluding South Africa, increased 14% to £969.3 million and pre-tax losses widened to £20 million from a £17 million loss.
During the period it invested in new restaurants and acquired various franchisees.
The firm, which has more than 19500 employees, said: “Overall, we delivered a robust performance in line with our expectations as we grew revenue in very competitive markets and continued to invest for the future.”
It added that it is exposed to the risk of economic uncertainty in the markets it operates in, including the effect of Brexit. However, the firm said it is “proactive” in taking actions where necessary to reduce risks.
Nando’s, which as at February was behind 937 owned and franchise restaurants, has achieved a huge cult following since it entered Britain in the Nineties.
