Nando's makes its first profit for nine years

NANDO'S has cautioned that the tax increases launched by Rachel Reeves will hit its earnings, despite the company returning to profitability for the first time since 2016.

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The firm reported a pretax profit of £38.2m for the year ending February 23, 2025, according to new accounts filed with Companies House. This profit follows a pretax loss of £50.1m in the previous year.

This loss was lower than the £86.2m loss recorded in the year to February, 2023, and the £99.4m loss in the preceding year.