Fulham Shore reveals financial results

Fulham Shore reveals financial results

Fulham Shore, the operator behind Franco Manca, The Real Greek and a single franchise of Bukowski Grill, has revealed its latest financial results for the year ended 26 March 2017.

The company reported revenues for the year of £41.3m, up from £29.3m the previous year.

Headline EBITDA also increased from £5.2m to £7.1m, along with headline operating profit up from £3.3m to £4.7m.

Operating profit passed the £1m mark, more than double last year’s £507,000, and profit after taxation increased from £76,000 to £969,000.

During the year, the company opened 13 new Franco Manca pizzerias and three new The Real Greek sites. Both restaurants also launched click and collect takeaway services.

Since 26 March 2017, it has opened six new Franco Manca sites in the UK, opened the first franchised Franco Manca in Salina, and opened two new The Real Greek sites.

“We see the financial success of this year as a sound base upon which to build the expansion of Franco Manca, The Real Greek and the Group over the coming years,” says Fulham Shore chairman David Page.

“To date we have identified and are developing two great restaurant brands. The first is Franco Manca, which was started in Brixton, London in 2009 by Giuseppe Mascoli. This brand has experienced strong growth since it was acquired by the Group in 2015 and we are now expanding outside London by opening and looking for new sites in cities such as Bristol, Oxford, Cambridge and Edinburgh.

“The second brand that has great prospects is The Real Greek. As we expand outside London, these new The Real Greek restaurants are performing as well if not better than a number of their London siblings.

“Both of these brands are very popular with customers and their food receives critical and social media acclaim. Both brands have scalable business models that combine great quality, high volumes and good value price points.

“The Group’s strategy is aimed at the long-term development of these brands and, by achieving their nationwide potential, we aim to deliver long term, sustainable returns for our shareholders.”