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Business News

Nando's is back in the black with a £14.7m profit

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 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 grew turnover 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 the Real Greek restaurants, for £30.4m. The enlarged group reduced its net debt by £15m to £378.6m, according to its latest accounts.