28 May 2021 07:00
28 May 2021
The Fulham Shore PLC
("Fulham Shore", the "Company" or the "Group")
Trading Update
Very encouraging sales performance
The Board of Fulham Shore (the "Board") is pleased to announce an update on the Group's recent trading. 71 out of the Group's 73 restaurants (53 of 54 Franco Manca and 18 of 19 The Real Greek) are now open across the UK for dining indoors in compliance with government guidelines for group sizes and social distancing, as well as continuing to offer takeaway/click and collect and delivery services.
Since the start of the current financial year beginning 29 March 2021, we have opened a Franco Manca on High Holborn in London and are due to open a further Franco Manca on Mitchell Street in Glasgow next week.
Group revenues in the first full week since reopening for indoor dining, being 17 to 23 May 2021 inclusive, were circa 103% of the Group revenues recorded in the similar week in calendar year 2019 (the Company had 61 restaurants open at that time) and 92% on a like for like basis for the same time frame. This recent sales performance is very encouraging despite the restaurants having restricted capacity due to social distancing.
Franco Manca's loyalty scheme user numbers have doubled since the beginning of the first lockdown, in March 2020, to over 220,000 today.
As a result of this trading performance, the Group continues to plan the opening pipeline for the next three years. Our property team is travelling around the UK looking for new properties and we have a number of sites that are currently in legal negotiations.
We look forward to fully opening our remaining two restaurants (in the Covent Garden area of London) at the beginning of June and welcoming enthusiastic customers on their return, both to our existing locations and the restaurants we will open in the future.
For further information, please contact:
The Fulham Shore PLC | www.fulhamshore.com |
David Page / Nick Wong
| Via Hudson Sandler |
Allenby Capital Limited Nick Naylor / Jeremy Porter / James Reeve (Corporate Finance) Tony Quirke / Jos Pinnington (Sales)
|
Tel: 020 3328 5656
|
Hudson Sandler - Financial PR Alex Brennan / Lucy Wollam | fulhamshore@hudsonsandler.com Tel: 020 7796 4133 |
Notes for editors
Information on The Fulham Shore PLC
Fulham Shore was incorporated in March 2012. The Directors believed that there were attractive investment opportunities within the restaurant sector in the UK and that, given their collective experience in the restaurant sector, they could take advantage of the opportunities which existed.
The ordinary shares of the Company were admitted to trading on AIM in October 2014 in order to capitalise on such opportunities and to give the company employees, customers and public the ability to share in the enterprise.
Today, Fulham Shore owns and operates "The Real Greek" (www.therealgreek.com) and "Franco Manca" (www.francomanca.co.uk) restaurants.
The Real Greek
Since its foundation in London in 1999, The Real Greek group has grown steadily, now offering modern Greek cuisine in 19 restaurants across London and Southern England.
The Real Greek food centres on the delicious, healthy diet of the Eastern Mediterranean, staying true to the Greek ethos of food, family and friends. Dishes are created using premium ingredients sourced from Greece and Cyprus whenever possible, and developed by Tonia Buxton, the face of Greek food in the UK.
The Real Greek's menu and atmosphere retain the spirit of eating in Greece, encouraging diners to take their time eating amongst friends and family, be it a relaxed dinner, family get-together, or a fully catered party.
Franco Manca
Franco Manca opened its first restaurant in 2008 and now has 54 restaurants, primarily in London, but also with restaurants across the UK (e.g. Edinburgh, Manchester, Leeds, Cambridge, Bath, Oxford, Bristol and Exeter). Franco Manca also has a franchised pizzeria on the island of Salina in Italy.
Franco Manca's pizza is made from slow-rising sourdough and is baked in an oven that produces high heat. The slow levitation and blast cooking process lock in the flour's natural aroma and moisture, giving a soft and easily digestible crust. Where possible, locally sourced and organic ingredients are used. Pizza prices start from £5.20.
Franco Manca has received the following accolades:
Winner of the Casual Dining Best Family Dining Experience Award 2020
Winner of the R200 Best Value Restaurant Operator- Over 20 Sites Award 2019 and 2017