Profits Rise At Nando's
Chicken restaurant chain Nando's is looking to launch additional restaurants in Ireland "where appropriate" in the wake of the revelation that the company's pre-tax profits rose by 44.5% to €4 million last year.
As reported by The Irish Independent, new accounts filed by Nando's Chickenland Ireland Ltd firm reveal that in addition to the rise in pre-tax profits, revenues rose by 12% to €25.26 million during the 12 months that ended on February 28, 2018.
Staff Costs And Accumulated Profits
Meanwhile, the number of people employed by the company during the period rose from 406 to 433, with staff costs increasing from €7.6 million to €8.77 million, and the company's accumulated profits totalled €13.6 million at the end of February of this year.
Looking For Sites Where Appropriate
The directors' report stated, "The company has opened 12 restaurants in the last nine years, and will continue to look for more sites to open where appropriate.
"To drive profitability and market share, the company will continue to focus on existing locations and develop opportunities for like for like growth, through further engagement with its employees and customers."
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.