Ibersol Group to open 11 new restaurants in Portugal this and year and its first in Angola

17 March 2011

Lisbon, Portugal, 17 March – Portuguese fast food group Ibersol is due this year to open its first restaurant in Angola, where it has so far invested 3.5 million euros, the group’s chairman said Wednesday.

In Portugal, Alberto Teixeira said that the group would invest around 7 million euros in opening 11 restaurants, including four Burger Kings, three Pizza Huts, three Pans&Company and one KFC.

In relation to the Angolan operation, director António Pinto Sousa noted how much had so far been invested but declined to provide a specific date for the restaurant to open.

“We have bought the land and have advanced licensing for the space in Luanda, but it is still very uncertain when we will get the definitive licence and can move ahead with more concrete information,” noted Pinto Sousa.

The group ended 2010 with profit of 15 million euros, with net profit unchanged from the previous year on a 2.5 percent rise in sales to 212.5 million euros. (macauhub)