Nando's, the restaurant chain famed for its flame-grilled peri-peri chicken, has returned to the black after cash-strapped consumers flocked to its no-frills outlets.
The UK arm said it benefited from "sales growth, lower cost inflation, better efficiencies and interest rates" last year, although Nando's dividend remained unchanged at £10m.
An improvement in gross margins helped Nando's Group Holdings post pre-tax profits of £14.7m over the year to 26 February, following a loss of £7.1m during the previous 12 months. The UK operation saw turnover rise 26 per cent to £419.6m.
In 2010, Nando's picked up 53 restaurants when it acquired Clapham House, the owner of the Gourmet Burger Kitchen and Real Greek restaurants, for £30.4m.Reuse content