Casual dining chicken chain Nando’s has reported a 14% boost to revenues for the 12 months up to 25 February 2018 – while operating profits declined by £4m year on year and pre-tax losses continued to grow.
Loss before tax stood at £20m, up from last year’s £16.9m. Revenues stood at £969.3m for the period, up from £847.9m the year before.
The firm cited franchise acquisitions as having contributed to the revenue increase while also prompting a reduction in royalty and franchisee income.
Meanwhile operating profits fell to £42.8m from £46.7m, with the report stating this was “largely due to higher costs as we grew the business”.
The report added: “Overall we delivered a robust performance in-line with our expectations as we grew revenue in a very competitive market”.