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Birmingham Post
Birmingham Post
Business
Jon Robinson

Sales surge at Nando's PERi-PERi sauce maker as fans tried to 'recreate the experience at home'

Sales surged by almost £20m at the maker of Nando's PERi-PERi sauce as customers attempted to "recreate the experience at home" because of the Covid-19 restrictions.

All About Food, which is based in Skelmersdale, Lancashire, has posted a turnover of £61.2m for its latest financial year, up from the £41.8m it achieved in the prior 12 months.

Its pre-tax profits also increased from £5m to £7m in the year to February 28, 2021.

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The business also makes sauces under the Pizza Express, Costa Coffee, Gourmet Burger Kitchen, Pret A Manger and Red's True Barbecue brands.

It is owned by Liechtenstein-based The Taro III Trust, the same fund which owns Nando's.

The company said its rise in turnover was due to the Covid-19 restrictions making consumers unable to "access their favourite restaurant and coffee shop brands in the usual manner, looking to recreate the experience at home".

A statement signed off by the board said: "The challenging retail and wholesale environment, in which consumers have little or falling income available for discretionary spend, continues to be the backdrop under which the group operates.

"However, those factors have been suppressed in the last 12 months by the Covid-19 global pandemic.

"Despite this, the group continues to look for growth potential through the development of existing brands and working with new partners and bringing new products to market.

"The group has set its financial targets in anticipation of the normal range of risks and opportunities typical for the retail/wholesale sector however, continues to monitor the opportunities and risks presented by Covid-19 and will adapt its strategy accordingly.

"Management believes that successful execution of its business plan, underpinned by the underlying financial and operating strength of the group, will result in achievement of a resilient financial performance in this challenging climate."

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