By Sohaib Shams
Nando's has reported an £11.3 million pre-tax loss for the year to February, reversing a £38.2 million profit a year earlier, as the chicken chain grapples with elevated energy, labour and food costs.
Revenue growth and expansion
Revenues rose 2 per cent to £1.51 billion over the period, supported by robust consumer demand and the opening of 34 new restaurants, including 11 in the UK and Ireland, bringing the total to 984 sites.
Cost pressures persist
Chief executive Rob Papps said the macroeconomic environment remains uncertain, with cost pressures broadly elevated due to geopolitical conditions and sustained global inflation, though some commodity prices have eased.
Investment and future plans
The company invested £116.6 million in capital expenditure and plans to open 15 new restaurants in the UK and Ireland this year, while its drive-thru format in Australia continues to perform strongly.
