“Looking forward, assuming our customer numbers continue to grow and trading continues to be robust, we plan to open an increased number of restaurants across both brands in the financial year ending March 2020,” Fulham Shore said in a trading update. By continuing to use this website you are giving consent to cookies being used. Do you know more about this story? “Looking ahead, the board remains confident that Fulham Shore is well positioned for continued growth and a great future. It also revealed it has implemented “effective cost saving measures” including rent reductions, deferrals and waivers negotiated with many landlords. Over 55,000 users are now said to be registered. The group has opened six new Franco Manca pizzerias including one in Bishopsgate, as well as one new The Real Greek restaurant, near Tower Bridge. on Image credit`; https://www.francomanca.co.uk/. Fulham Shore expects their upcoming financial results to be released in mid-July. The group saw revenues grow 7% to £68.6m for the year ending March 20. The restaurant group behind pizza chain Franco Manca has said it will take advantage of lower rents and open new sites despite seeing trade impacted by the pandemic. In March 2015, Franco Manca was purchased by The Fulham Shore, which also owns ‘The Real Greek". Fulham Shore has also launched a Franco Manca loyalty scheme and mobile app. Looking to promote your product/service to SME businesses in your region? Copyright © 1997-2020 Mulberry Publications Ltd. All rights reserved. The current situation started with an oversupply of restaurants in the UK, followed by the Covid-19 pandemic. In July 2018 they stated in the company report that more than 50% of … The group, which also owns the Real Greek Restaurants brand, said the funds have improved the group’s balance sheet and positions it on “sound financial footing” to operate throughout the current pandemic. The owner of Franca Manca, Fulham Shore, has announced it completed a £2.25m equity raise and has also entered into a new £10.75m debt facility and agreed new terms for its existing £15m banking facilities. The Fulham Shore is publicly listed on the London stock exchange AIM market and is operated by Giuseppe Mascoli, David Page, Nabil Mankarious, and David Sykes, who all have significant stakes in the company. Fulham Shore’s operating profit came in at £2.1m, while profit-after-tax stood at £0.4m. All were driven by poor economic conditions and various social disruptions. Contact us anonymously through this link. Join us and make your mark. Fulham Shore said they are ending the financial year with 61 restaurants, comprising 44 Franco Manca outlets in the UK, 1 Franco Manca in Italy and 16 The Real Greek sites. © 2020 Bdaily Ltd. All rights reserved. It added that due to social distancing requirements, the board estimates that its re-opened restaurants can operate at approximately 60 to 70%of their previous dine-in capacity – with the reduction in capacity to “some extent” having been compensated by an increase in delivery and takeaway sales. Owner behind Franco Manca pizzerias reveals 'growing' financial results London-headquartered Fulham Shore PLC has released its unaudited interim results for the six months to September 29 2019. Ahead of their upcoming financial results, the company expects to report that both revenue and headline EBITDA will be ahead of last year’s figures and “in line with market expectations.” Such growth has been driven by increasing customer numbers in their existing restaurants and new restaurant openings. Bird Restaurants has announced an “ambitious expansion plan” with several new site launches planned for early 2021. The company that owns Franco Manca and Real Greek is eyeing an increased number of restaurants across both brands as revenue continues to grow. They expect to report that both revenue and headline EBITDA will be ahead of last year’s figures. This website uses cookies to measure our traffic, manage email subscriptions and operate our paywall. Copyright © 1997 - 2019 Mulberry Publications Ltd. All rights reserved. The group - which owns and operates several restaurant chains - announced its revenue has increased 9.3 per cent to £36m, compared to 2018’s figure of £33m. In July 2017 they said that the uncertainty over Brexitwas 'already affecting the availability of skilled European restaurant staff’. 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Career opportunities at Bdaily. David Page, Fulham Shore’s chairman, said: “We are pleased to have delivered good performance during the first half of the current financial year with revenue increasing by 9.3 per cent across the group. In the board’s opinion, many of these businesses were those with poor products, overpriced menus and stretched balance sheets, sometimes combined with owners inexperienced in how to run restaurants, control costs and look after cash.”, It concluded: “In the aftermath of all the above downturns, many good restaurant businesses survived and came out stronger.

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