Nando's more than doubles pre-tax profit

26 November 2013 by
Nando's more than doubles pre-tax profit

Fast casual chicken restaurant chain Nando's more than doubled its pre-tax profit in the year to 24 February 2013.

The company's pre-tax profit hit £33.4m for the period, up from £14.7m the year before.

Meanwhile, its turnover for the 52-week period rose to £485.2m, up from £419.6m in 2011/12.

The rise in turnover was thanks in part to the group's continued expansion. Its restaurant estate increased from 313 in February 2012 to 343 at 24 February 2013, including five new GBK restaurants.

Nando's, which was founded in South Africa in 1987 by Fernando Duarte and Robert Brozin, has expanded worldwide through franchising.

The UK company is owned by the Enthoven family-controlled investment company Capricorn Ventures International. Its managing director is Robby Enthoven, whose father opened the first UK Nando's in Ealing Common, west London, in 1992.

In September 2010, Capricorn Ventures bought Gourmet Burger Kitchen (GBK) and Real Greek operator Clapham House in a £30m deal.

It later sold the six-strong Real Greek chain to former Clapham House Group chairman David Page.

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