Nando's reports inflation-driven sales loss of £23 million

28th July 2010, 11:34am

The South African restaurant chain Nando's has been hit by the rising cost of raw ingredients and slower consumer spending with reports of deepening losses, according to a report in the Daily Mail today.

The chicken restaurant franchise is reported to have made a loss of £23 million on sales of £167 million in the 36 weeks to February 2009, according to documents filed with Companies House.

The loss has been described as "worse" than a year earlier when the business reported a deficit of £20 million on a turnover of £187 million.

But despite the outcome, the director's of Nando's are reported to be "satisfied with the results" and are blaming inflation for eating into profits - but expect to improve their margin in the coming year.

Nando's is said to have made plans to open 20 new restaurants this year to add to its 220 existing sites.

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