Fulham Shore eyes 150 new sites

The Real Greek and Franco Manca operator has also created a new team to explore and progress the international development of both restaurant brands.

The news was disclosed in a full year results for the year ended 28 March 2021, where Fulham Shore reported revenue down 41.3% to £40.3m, with trading restrictions in place throughout much of the year.

Headline EBITDA was £9.m, while the group made a loss before tax of £7.5m.

Since the year end, the David Page-led group added a further two Franco Manca pizzeria to its estate, in High Holborn and in Glasgow, taking the total number of restaurants to 74.

Executive chairman David Page said the Fulham Shore had navigated through 'very challenging trading conditions to deliver this good performance'.

He said: “This is testament to the popularity and relevance of our Franco Manca and The Real Greek brands, the adaptability of our propositions, and the agility of our teams who I would like to take this opportunity to thank for their hard work and commitment during the year.

“Since the beginning of the current financial year commencing 29 March 2021, The Group has continued to trade profitably and ahead of management expectations, driven by strong performances across our suburban restaurants.”

Since July, the restaurants have been welcoming 'increasing numbers of customers', with momentum maintained across take away and delivery.

Page added: “In line with our long-term expansion strategy we have developed a strong pipeline of new locations, supported by favourable rental terms and the Group’s strong cash position. We plan to open 10 locations during the current financial year and have identified more than 150 additional sites in line with our medium-term plans.”