Nando’s could double in size
Capricorn Ventures-backed group Nando’s believes it can eventually double its current 350 strong estate in the UK. Turnover in the 12 months ending 28 February 2015 was up to £587m from £535m the year before. The group, which completed the restructure of its global business at the start of the year, is believed to have traded strongly over the past nine months and has plans to open a further 25 sites, while refurbishing 30-plus sites. The global restructure has seen the group take control of its subsidiary businesses in Australia, Canada and New Zealand, while holding minority stakes in its operations in India, Malaysia and Singapore. The total number of sites the group had in operation at the end of its last financial year was 1,191.
(Article via M & C Allegra Report)