(Alliance News) - Fulham Shore PLC on Wednesday said that weekly revenue from its restaurants increased and decreased between April and November as UK lockdown restrictions were removed and reimposed.
Fulham Shore, owner of restaurant chains Franco Manca and The Real Greek, said sales in August were ahead of the previous year due to the UK government's Eat Out To Help Out Scheme. However, during the months where a full lockdown or other restrictions were in place, sales were behind the same period last year.
During the first quarter of the current financial year ending March 2021, the London-based company made an overall loss when restaurants were closed, it said. Fulham Shore expects the second quarter, when restaurants were allowed to reopen to dine-in customers, to generate earnings before interest, tax, depreciation and amortisation to cover much of the lost contribution from the first quarter.
Looking ahead, Fulham Shore said that it was not possible to predict the outlook for the rest of the year due to the ongoing uncertainty over further restrictions the government might impose. "We will continue to respond and adapt to changes to the restrictions as they are implemented by the government," the company said.
Shares in Fulham Shore were up 6.6% at 9.20 pence in London on Wednesday.
By Zoe Wickens; zoewickens@alliancenews.com
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