Nando’s slid to a pre-tax loss of £11.3 million for the year to February, against a profit of £38.2 million a year earlier, as turnover rose 2% to £1.51 billion. The chain ended the year with 984 restaurants and said cost pressures remain elevated, though sales kept climbing over the six months to August.
The figures come from Companies House filings reported by the Press Association on 4 November 2026. Capital investment was £116.6 million. Nando’s opened 34 restaurants in the year, 11 of them in the UK and Ireland, taking the group to 984 sites. Chief executive Rob Papps described the performance as positive. The move from a £38.2 million profit to an £11.3 million loss is a swing of £49.5 million in a year.
Growth in sites, not in profit
Of the 34 restaurants opened in the year, 23 were outside the UK and Ireland, so most of the group’s expansion came in other markets. Turnover grew 2% while the business moved into a loss, and the report does not itemise where costs rose. Capital investment of £116.6 million was reported without a split between new restaurants and spending on the existing estate.
Trading since February
Sales continued to rise over the six months to August, helped by resilient consumer demand, though the filing describes the operating environment as challenging and cost pressures as elevated, citing geopolitical tension and persistent global inflation. Some commodity prices have softened. Nando’s is rolling out energy-efficient grills across the UK and Ireland, which the filing presents as a way to ease costs. Papps said the business remains confident in its model and the long-term opportunity across all its markets.
Openings plan and the Australian drive-thru
Nando’s plans to open 15 restaurants in the UK and Ireland this year. Papps said the drive-thru format in Australia has been a strong performer and is giving the business learnings as it considers new formats, alongside improvements to its digital experience and menu innovation, which he said “position us well for the future”. The 15 planned UK and Ireland restaurants compare with the 11 opened there in the year to February. The loss comes as the wider sector reports modest growth: hospitality like-for-like sales rose 2.7% in September.
A company-run chain in the UK and Ireland
Nando’s states that it does not offer franchises in the UK and Ireland and has no plans to, so the openings above are company decisions rather than franchisee recruitment. L’Express Franchise’s explainer on how to open a Nando’s sets out the position in more detail.
How the loss is reported
The £11.3 million loss is a pre-tax figure for the year to February against a £38.2 million profit the year before. The AOL report does not break out the cause between operating costs and other items, so the figure is reported as filed.
