Nando’s opens new branches as annual profits in Britain double

 
Marion Dakers
CHICKEN restaurant chain Nando’s has beefed up its profits in the last year after opening new branches.

Accounts for Nando’s Group Holdings, the British business carrying the Nando’s name, showed turnover in the year to 24 February rose 15.6 per cent to £485.2m, while pre-tax profits more than doubled to £33.4m.

Nando’s opened 30 restaurants in the year, including five under the Gourmet Burger Kitchen name, taking its total number of branches to 343.

The group took over Gourmet Burger Kitchen in 2010 in a £30m deal, which also included The Real Greek brand that Nando’s sold off last year.

The firm’s workforce rose by almost 1,000 to pass 10,000 in the period covered by the accounts, and despite a “continued difficult trading environment”, the company paid out £14.2m in dividends to its investors.

Nando’s was founded in Johannesburg in 1987 and the UK business is owned by a South African investment firm, Yellowwoods.