Fast food restaurants in Angola bolster accounts of Portuguese group Ibersol in 1st half

4 September 2013

The two Kentucky Fried Chicken (KFC) restaurants in Angola owned by Portuguese group Ibersol, posted turnover of 3.3 million euros in the first half of the year, which was as much as the 18 KFC restaurants the group has in Portugal, according to the group’s results for the first half of the year.

Ibersol, which also manages Pizza Hut and Burger King in Portugal, posted an overall drop in revenue of 2 percent to 78.38 million euros, and the group’s business in Angola prevented a more significant decrease.

“Without the business in Angola sales would have fallen by 6.1 percent,” said the report published via Portuguese market regulator Comissão do Mercado de Valores Mobiliários (CMVM).

One of the KFC restaurants is in Luanda airport and, on the official Facebook page, the company notes it is the first US restaurant chain in Angola. It was established in 2012 and the 3.3 million euro turnover is in line with the Ibersol group’s expectations.

Portugal and Spain had a negative effect on the company’s results, with drops in revenue of 6.8 percent and 4.4 percent, respectively. In the Portuguese market sales totalled 54.46 million euros, with Pizza Hut as the chain that contributed most to this result with turnover of almost 22 million euros. (macauhub)