The Newshound

Restaurant chain Nando's slides to a pre-tax loss despite strong sales and is set for further cost pressures

A Nando's restaurant branch. Boss Rob Papps warned that rising labour costs and ingredient prices will weigh further on the peri-peri chain after it reported a pre-tax loss despite strong sales.
A Nando's restaurant branch. Boss Rob Papps warned that rising labour costs and ingredient prices will weigh further on the peri-peri chain after it reported a pre-tax loss despite strong sales.

Nando's reported a pre-tax loss for its latest financial year despite posting strong sales and pressing ahead with expansion, with the restaurant chain warning that further cost pressures lie ahead. Boss Rob Papps insisted the company's performance remained "positive" given the difficult conditions facing the wider hospitality sector. The results reflect the squeeze hitting restaurants across Britain as labour costs and ingredient prices bite.

National Insurance and wage bill increases are among the pressures Nando's says will weigh on the business going forward.

Despite the loss, Nando's continued opening new sites, signalling confidence in long-term demand for the peri-peri chain.

MoreLBCNando’s set for further cost pressures after sliding to lossThe IndependentNando's reports pre-tax loss despite strong sales and expansion plansAOL.comNando's warns of further cost pressures despite strong demand as it falls to £11.3m loss - AOL.com
Read today's full feed at The Newshound →