In its interim results for the six months ended 23 September 2018, the company reported revenue growth of 20% to £33m, with headline EBITDA up 1.4% to £4.6m. Pre-tax profits grew 35% to £1.5m.
Fulham Shore currently operates 59 restaurants - 16 Real Greeks and 43 Franco Manca pizzerias - and chairman David Page says the company is well positioned for continued growth. During the period, two Franco Mancas opened – in Bath and Cambridge - with a further site in Aldwych opening last month.
Growth has been driven by new menu initiatives including more vegan and gluten-free options within both businesses as well as investment in digital channels, according to Page.
“At the same time, we have remained resolutely focussed on both Franco Manca’s and The Real Greek’s stand out characteristics: exceptional food provenance and outstanding value for money menu pricing,” he says.
In the half-year period, Franco Manca says that it served more than two million pizzas.
“During the current financial year to date we have seen sales and profit growth, improved operating cash flow, and reduced debt exposure for the group,” adds Page.
“These factors, together with our successful new opening so far this year, have led us to consider increasing our opening programme beyond the current financial year.”