Nando’s is ramping up its restaurant expansion plans following strong sales performance that has surpassed pre-pandemic levels.
The popular peri-peri chicken chain has announced plans to open 14 new restaurants in the UK during the current financial year with many sites having already opened.
This expansion follows a successful period where the company opened 17 restaurants in the year to February 2024, with 11 of these in the UK and Ireland.
The chain reports it has been “extremely encouraged” by customer demand in the first quarter of its 2024-25 financial year.
Over the past year, Nando’s has invested £86.6million in capital expenditure focusing on new store openings and restaurant refurbishments.
The restaurant chain reported revenues of £1.37billion for the year to February 25, marking a 7.5 per cent increase from the previous year.
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Nandos have revealed plans to open more restaurants across the UK
GETTY
Nando’s significantly reduced its pre-tax losses to £50.1m, down from £86.2m in the previous year.
The company achieved an operating profit of £59.8m, returning to pre-pandemic performance levels.
Despite these improvements, the company noted that cost pressures remain a significant challenge. The economic backdrop continues to be uncertain, with elevated levels of cost inflation affecting the business.
According to the chain, it continues to face pressure from rising energy, labour and food costs, which continue to impact operations.
Here is a full list of the eight Nando’s stores that opened in the last financial year:
- Edinburgh
- Newcastle
- Doncaster
- Taplow
- Bognor
- Watford
- Northampton
- Belfast
LATEST DEVELOPMENTS:
Customers can enjoy Nando’s Fanta wingsNANDO’SNando’s Group Chief Executive Rob Papps highlighted the company’s strong performance despite ongoing challenges.
“The 2024 financial year saw Nando’s deliver a good sales performance and a return to pre-pandemic levels of operating profit driven by robust consumer demand for our flame-grilled peri-peri chicken supported by our strong brand and customer proposition,” he said.
However, Papps acknowledged the persistent challenges facing the business.
He noted that “despite the improved sales performance, ongoing cost pressure with energy, labour and food remained very challenging”.