Takeaway sales at Nando’s Irish arm ease pandemic pain



Takeaway sales at the Irish arm of fast casual restaurant chain Nando’s exceeded management’s expectations this year during the Covid-19 crisis.

According to new accounts for Nando’s Chickenland Ireland Ltd operating profits increased by 7 per cent to €4.54 million. This is despite revenues marginally to €26.68 million from €26.9 million in the 12 months to the end of February this year.

On the impact of Covid-19 on the business, the directors state that while ‘collect and delivery’ sales have beaten expectations, overall sales were some way below company sales in the period prior to the pandemic.

A note confirms that the company has availed of the Government’s Temporary Wage Subsidy Scheme (TWSS) and Employment Wage Subsidy Scheme (EWSS).

New restaurants

In spite of the impact of Covid 19, the directors said “the company is currently looking for potential sites to open more restaurants in the Republic of Ireland”.

The directors’ report states: “The company has opened 12 restaurants in the last 10 years, and will continue to look for more sites to open where appropriate.”

Numbers employed declined 459 from 454 with staff costs increasing to €9.3 million from €9.28 million.

Pay to directors last year totalled €225,042 made up of €184,542 in pay and €40,500 in pension payments.

The company’s after tax profits totalled €2.43 million after a corporation tax bill of €351,042.



Source link