Fulham Shore, the David Page-led listed company, has said it plans for further expansion of The Real Greek and Franco Manca this year.
The company this morning reported revenue of £8.3m for the nine months to 29 March, compared to £8.6m for the 12 months to 29 June 2014.
Headline operating profit for the nine months ended was £790,000 (FY14: £1.2m) and operating profit for the period was £25,000 (FY14: £1m) after incurring £374,000 of costs in relation to the reverse acquisition of Real Greek parent company, Kefi Limited.
The company, which currently operates 9 Real Greeks and 15 Franco Mancas, had net cash as at 29 March of £3m (29 June 2014: £391,000).
Fulham Shore opened one new The Real Greek during the period. It’s acquisition of 99% of the issued share capital of Franco Manca Holdings Limited took place after the reported period, in April.
Since the end of the period it has opened another Real Greek and three Franco Mancas.
Chairman David Page said: “We are excited about the new financial year with the prospect of expanding our two excellent restaurant businesses, The Real Greek and Franco Manca.
“Since the year end and the acquisition of Franco Manca, we have opened 1 new Real Greek restaurant in St Martins Lane in Covent Garden, London and 3 new Franco Manca pizzerias in Covent Garden (London), Soho (London) and Ealing (London) which opens today. This takes the total number of restaurants operated by the Group to 24 restaurants today.
“We are also building two more Franco Manca pizzerias in Earls Court (London) and Bermondsey (London) which will open this autumn.
“We look forward to the further expansion of our two restaurant businesses during the current year.”
