4 Apr 2016 07:00
4 April 2016
The Fulham Shore PLC
("Fulham Shore" or the "Company")
Year end trading update
The Board of Fulham Shore is pleased to provide an update on trading ahead of the publication of the Company's results for the year ended 27 March 2016, which are expected to be released in early July 2016.
The Board expects that Fulham Shore will report results in line with market expectations for the financial year. Since December 2015, Fulham Shore has opened an additional Franco Manca site in Stoke Newington and a Bukowski Grill franchise restaurant in Soho. As a result, Fulham Shore has opened the following new restaurants during the 2015/16 financial year just ended:
· 1 The Real Greek restaurant in St Martin's Lane in London's West End;
· 7 Franco Manca pizzeria in Soho, Ealing, Bermondsey, Earls Court, Covent Garden, Wimbledon and Stoke Newington; and
· 1 Bukowski Grill restaurant (under the franchising agreement announced on 2 November 2015) on D'Arblay Street in Soho, London.
This takes Fulham Shore's estate to 29 restaurants, comprising 9 The Real Greek, 19 Franco Manca and 1 Bukowski Grill.
Fulham Shore is on site and planning to open a further 4 Franco Manca restaurants in time for Summer 2016, including the first 2 Franco Manca pizzeria outside of London, in Guildford and Brighton. The Company continues to build its pipeline of new restaurant openings and to review further investment opportunities.
The Company has implemented the Government's National Living Wage for all employees, including those under 25 years old. This has been fully budgeted for in the Company's growth plans.
Contacts:
The Fulham Shore PLC www.fulhamshore.com
David Page 07836 346 934
Allenby Capital Limited
Nick Naylor / Jeremy Porter / James Reeve 020 3328 5656
Notes for editors
Information on The Fulham Shore PLC
Fulham Shore was incorporated in March 2012. The Directors believe that there are a number of potentially attractive investment opportunities within the restaurant and food service sectors in the UK.
The Directors believe that, given their collective experience in the restaurant and food service sectors, they can take advantage of the opportunities which exist in these sectors and create a profitable and sustainable business.
The ordinary shares of the Company were admitted to trading on AIM in October 2014 in order to capitalise on such opportunities.
Today Fulham Shore currently operates "The Real Greek" (www.therealgreek.com) and "Franco Manca" (www.francomanca.co.uk) restaurants, as well as a Bukowski Grill restaurant.