Franco Manca operator Fulham Shore returns to profit

The Fulham Shore plc has reported operating profits of £6.7m, compared with a loss of £4.8m in 2021 and profits before tax of £3.9m compared with a loss of £7.5m in 2021.

During the year ended 27 March 2021, it also reported that its revenues increased 105% to £82.7m (2021: £40.3m) with pandemic related trading restrictions implemented by the UK Government which were completely lifted in mid July 2021. The restrictions had been in place throughout most of the previous financial year.

The group, which owns Franco Manca and The Real Greek restaurants, saw six new Franco Manca pizzeria and four new The Real Greek restaurants opened during the period.  

The food chain also saw an increase in the number of customers served by the group gathering momentum towards the end of the year with the total restaurants operated by the group as of 27 March 2022 at 82 (2021:72) in the UK and 84 (2021:72) globally.

David Page, executive chairman at The Fulham Shore, said: “Fulham Shore delivered a very strong performance with revenue more than doubling against the prior year, reflecting the quality of our two restaurant businesses as well as the easing of pandemic-related trading restrictions.

“During the year we opened 10 new restaurants across Franco Manca and The Real Greek and signed an exciting franchise agreement for Franco Manca in Greece. We have continued this momentum in the current year to date and have an excellent pipeline of new sites as we continue to grow our two outstanding restaurant businesses.”

He added: “Whilst the first quarter of the year has been characterised by increasing pressures on the UK consumer, our restaurants remain crowded with customers seeking a great experience, quality food, and importantly outstanding value. We will always aim to keep our prices low, driving high customer numbers per site and making for fun, atmospheric restaurants, as well as motivated employees.”