Franco Manca owner sees revenues rise to £36m
Franco Manca and Real Greek operator Fulham Shore has reported a 9.3% increase in revenue to £36m having opened seven new sites in the six months to 29 September 2019.
The group said that EBITDA was £8.4m after the adoption of accounting method IFRS 16, and £4.2m before the new standard. Operating profit was £2.1m after the adoption of IFRS 16, and £1.5m before, compared to £1.6m in 2018.
Fulham Shore opened six Franco Manca sites in the period and one Real Greek restaurant, while a seventh Franco Manca opens today in Bishopsgate, London, and a further Real Greek neat Tower Bridge in London has opened since the accounting period.
Fulham Shore chairman David Page said: "We are pleased to have delivered good performance during the first half of the current financial year with revenue increasing by 9.3% across the Group. The performance was driven by seven successful new restaurant openings as well as increased customer numbers in our restaurants. This demonstrates the exceptional quality and value-for-money proposition at both Franco Manca and The Real Greek.
"Looking ahead, the Board remains confident that Fulham Shore is well positioned for continued growth and a great future. We look forward to continuing this positive momentum in the period ahead."