REG - Fulham Shore PLC - Trading Update

Fulham ShoreAnnouncement

10/09/2021 07:05

RNS Number : 3385L
  
Fulham Shore PLC (The)
  
10 September 2021
  
 

10 September 2021
 
The Fulham Shore plc
("Fulham Shore", the "Company" or "Group")
 
Trading Update
 
Accelerating momentum and continued expansion
Fulham Shore is pleased to announce a further update on the Group's recent trading.
 
Since the Group's Final Results announced on 17th August 2021 Group revenues have continued to grow. In the three completed weeks since (up to 5 September 2021), Group revenues for all restaurants have increased 27% compared to the equivalent period in the 2019 calendar year.
 
This represents a marked acceleration from the 8% average increase for the eight weeks ended 15 August 2021 announced in the Final Results. The Group's 17 restaurants that are located in the West End of London and city centre office locations, although still down on 2019 levels, have, in these three weeks, continued to see a week-by-week improvement in footfall and revenues as tourists and office workers have started to return.
 
So far, during the Group's current financial year ending March 2022, we have opened two Franco Manca and, most recently, our 20th The Real Greek in Norwich. This Chantry Place location has opened with strong trading serving an enthusiastic local audience. This takes the total number of restaurants operated by the Group to 75.
 
Since 17 August 2021, fitting out works have commenced on two new Franco Manca pizzeria, in Blackheath Village and on Baker St in London. 15 more potential sites are in solicitors' hands for both Franco Manca and The Real Greek.
 
The Group will hold its AGM on Wednesday, 29th September 2021 at 9.00am. On that day, and because of evolving market conditions, a further trading update will be provided together with a statement on the first six months of our financial year which will have ended on 26th September 2021.
 
David Page, Chairman, commented: "We are very encouraged by the accelerating revenue growth trends during recent weeks despite continued challenging trading conditions. This reflects the popularity and relevance of both Franco Manca and The Real Greek, underpinned by their great food and fantastic value. 
 
We continue to see a number of exciting growth opportunities and are on course to open 10 locations during the current financial year, with more than 150 additional sites in our medium-term plans."
 
For further information, please contact:
 



The Fulham Shore PLC


www.fulhamshore.com




David Page / Nick Wong
 


Via Hudson Sandler




Singer Capital Markets (Nominated Adviser & Broker)
Shaun Dobson / James Moat / Kailey Aliyar / Hannah Woodley
 


+44 (0) 20 7496 3000 




Hudson Sandler - Financial PR
Alex Brennan / Lucy Wollam


fulhamshore@hudsonsandler.com
Telephone: 020 7796 4133



 




 
Notes for editors
 
Information on The Fulham Shore PLC
 
Fulham Shore owns and operates "The Real Greek" (   www.therealgreek.com  ) and "Franco Manca" (   www.francomanca.co.uk  ) restaurants.
 
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.
 
The Real Greek
 
Since its foundation in London in 1999, The Real Greek group has grown steadily, now offering modern Greek cuisine in 20 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 55 restaurants, primarily in London, but also with restaurants across the UK (e.g. Edinburgh, Glasgow, Manchester, Leeds, Cambridge, Bath, Oxford, Bristol and Exeter). 
 
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. 
 
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
 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
TSTLLMMTMTAMTIB