Nando’s is eyeing up potential sites for further expansion here as pre-tax profits at the company last year increased by 64 per cent to €7.7 million.
That is according to new accounts filed by Nando’s Chickenland Ireland Ltd which show that pre-tax profits surged as revenues increased by 14pc from €34.2 million to €39.1 million in the 12 months to the end of February 23rd last year.
In their report, the directors state that “the company is currently looking for potential sites to open more restaurants in the Republic of Ireland”.
The pre-tax profits are up from €4.7 million in the prior year.
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The directors said “the company’s strategy through the period is to continue to grow in terms of number of restaurants, profitability, and market share”.
They state that to drive profitability and market share, the company “will continue to focus on existing locations and develop opportunities for like-for-like growth”.
Under the heading of Inflation and Cost Pressures, the directors noted that “while some easing in commodity prices has been observed, cost pressures remain elevated due to the current geo-political climate and the effects of sustained inflation on the global economy”.
“These factors continue to present significant cost challenges in the market,” they added.
“Current trading in the first half of the financial year ending February 2026, sales continued to grow and we have been extremely encouraged by customer demand, nevertheless cost inflation remains at elevated levels”.
They state that the company “is actively managing the impact of continued cost pressures through a number of initiatives, including productivity gains and the roll out of energy efficient grills”.
“While these actions have been effective in mitigating some of the impact, we anticipate that cost pressures will continue to affect our overall performance in the current financial year,” they said.
The UK headquartered company recorded operating profits of €8.3 million and net interest payments payable of €600,000 resulted in the pre-tax profit of €7.7 million.
Staff numbers last year increased from 508 to 521 as staff costs rose from €10.9 million to €12.3 million.
Pay to directors last year totalled €300,000. The firm recorded a post tax profit of €6.4 million after incurring a corporation tax charge of €1.3 million.
Accumulated profits at the end of February last year totalled €34.8 million while the firm’s cash funds declined from €19.7 million to €7 million.
