Franco Manca owner serves up revenue boost
Franco Manca owner The Fulham Shore reported growing revenues as it continues to expand the pizza chain outside London.
The restaurant chain has opened Franco Manca branches in Birmingham, Exeter, Leeds and Edinburgh in first half of the financial year as the group eyes opportunities outside of the capital. It also opened another London branch in Greenwich.
Read more: Fulham Shore reports revenue boost
Further site openings are in the pipeline for this and next financial year, the AIM-listed company announced in a trading update today.
“We continue to see more properties coming to the market at ever lower rents as a result of the current conditions in the wider property, retail and dining out sectors, and will continue to take advantage of these as and when is appropriate,” the company said in a statement.
Like-for-like revenue at Fulham Shore’s other brand The Real Greek dipped slightly, the group said, due to cooler weather this summer.
In its full year results published last month the company reported a 17 per cent jump in revenue to £64m in the year to the end of March. Pre-tax profit was £1.4m, compared to a loss of £0.1m the previous year.
Read more: Franco Manca sales heat up
The restaurant group’s trading update comes at a difficult time for the casual dining sector which has seen the collapse of rival chains such as Jamie’s Italian.
Fulham Shore is currently building its 50th Franco Manca restaurant in Manchester and the 17th The Real Greek in the Strand, London, bringing its total portfolio to 68, including a franchise in Italy.