LISBON: Portuguese group Ibersol plans to open 13 new restaurants in Portugal and Angola in 2016, with “two or three” units opening in Angola, according to the company’s first quarter report.
The report and accounts for the first quarter for Ibersol, which manages catering brands like Pizza Hut and Kentucky Fried Chicken does not specify which brands will have new units this year and is aware of the difficulties of the Angolan market. “In Angola, revenues related to the export of oil will not reach the level needed to ensure coverage of imports, and it is likely the pace of currency devaluation will continue during 2016,” said the statement, adding that the group will pay special attention to covering foreign exchange risk.
In December 2015 Ibersol opened the first Pizza Hut unit in Luanda and KFC continued to grow, with the opening of three more units in Benguela province, in Zango and Xyami Shopping Nova Vida. At the end of March, Ibersol operated 372 of its own restaurants, of which 92 are Pizza Huts, 55 Burger Kings, 47 Pans+Roulotte, 18 KFC and 10 Pasta Caffé, among other brands and restaurant concepts, recording sales of 52.4 million euros and profit of 2.7 million euros.
