TIDMFUL
RNS Number : 3275K
Fulham Shore PLC (The)
28 August 2019
28 August 2019
The Fulham Shore plc
("Fulham Shore", the "Company" or the "Group")
AGM statement and Trading Update
At today's Annual General Meeting, being held at 9.00am at
Franco Manca Birmingham, located at 19 Bennetts Hill, B2 5QJ, David
Page, the Chairman of the Company, will make the following
statement:
Current trading
In the first 21 weeks of the current financial year, total Group
revenues have increased compared to the same period last year.
At Franco Manca, increased revenue is being driven by restaurant
openings and increased customer numbers. At The Real Greek, due to
the long spring and summer 2018 heatwave, which has not been
repeated in 2019, like for like revenues have until recently been
slightly behind last year.
Overall, trading for the Group in the financial year to date
continues to be in line with management expectations.
Opening programme
In the current financial year to date, Fulham Shore has opened
five Franco Manca pizzeria: in Greenwich, Birmingham, Exeter, Leeds
and Edinburgh, all of which have started brightly. The opening of
these last four restaurants continues our successful expansion
outside London.
We are building our 50(th) Franco Manca pizzeria in Manchester
and the 17(th) The Real Greek on the Strand in London. These two
will take Fulham Shore's restaurant portfolio to 67 restaurants in
the UK, as well as one summer Franco Manca franchise in Italy.
We are in negotiations to secure a number of sites for the
current and next financial year. As previously announced, we will
continue our policy of funding new restaurant openings largely
through internally generated cash flow. We continue to see more
properties coming to the market at ever lower rents as a result of
the current conditions in the wider property, retail and dining out
sectors, and will continue to take advantage of these as and when
is appropriate.
For further information please contact:
The Fulham Shore plc www.fulhamshore.com
David Page Tel: 020 3026 8129
Allenby Capital Limited
Nick Naylor / Jeremy Porter / Tel: 0203 328 5656
James Reeve
Hudson Sandler - Financial PR fulhamshore@hudsonsandler.com
Alex Brennan / Lucy Wollam 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 16 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 49
restaurants, primarily in London, but with recent openings in
Leeds, Exeter, Birmingham, Cambridge, Bath, Oxford and Bristol.
Other locations outside London are in the opening pipeline for the
next 12 months. 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 GBP5.00.
Franco Manca has received the following accolades:
Winner of the R200 Best Value Restaurant Operator- Over 20 Sites
Award 2017
Winner of the CGA Peach Hero and Icon Awards Best Concept award
2016
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END
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