Fulham Shore to ‘proceed cautiously' over next 12 months

22 December 2022 by
Fulham Shore to ‘proceed cautiously' over next 12 months

The company that owns the Real Greek and Franco Manca restaurant businesses will "proceed cautiously" in the face of cost pressures over the next year.

Fulham Shore executive chairman David Page said the business would focus on conserving cash and taking advantage of decreasing rents.

"Trading during the first two months of the second half of the financial year was well ahead of the comparable periods in 2019 and 2021, at 46% and 12% respectively," he said in the company's financial results for the six months to 25 September 2022.

"Notwithstanding this momentum, the board remains mindful that we continue to operate against an unstable political and economic backdrop, which in turn has impacted consumer confidence and driven up our costs as well as facing significant challenges from the ongoing transportation disruption."

During the period, Fulham Shore reported a revenue increase of 26% to £49.9m, and earnings before interest, tax, depreciation and amortisation (EBITDA) of £10.5m, marginally behind the £10.6m seen last year. The business saw profit after tax of £300,000, compared to £2.4m in 2021.

The group opened 11 new restaurants in the UK during that time and has since agreed the terms of a new franchise agreement for Franco Manca in Spain, which will see the opening of two restaurants in the country early next year, describing it as "a potential major market"

Two further Franco Manca and Real Greek openings, respectively, following the period end, took the Franco Manca brand to 71 pizzerias and the Real Greek to 26 restaurants.

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking