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Nandos sees turnover rise by 14% as expansion continues

Casual dining chain, Nando’s has posted financial results for the 12 months to 25 February 2018, which shows turnover increased by 14% to £969.3m (2017: £847.9m).

The firm stated that this growth was driven by organic growth in key markets, along with increased sales associated with new restaurants and franchise acquisitions.

Operating profit fell by £4m year-on-year to £42.8m, primarily as a result of higher costs associated with expanding the business.

Nando’s ended the year with a loss of £36.1m, compared with a profit of £19.5m last year, although the prior year’s figure included £50.7m from discounted operations.

The company invested almost £8m in the purchase of 24 franchisees in Australia and New Zealand.

During the period, the business opened 29 new restaurants, bringing its global estate to 937 sites at year-end. This is comprised of 711 company-owned sites and 226 franchises.