Franca Manca owner says trade is ‘resilient’ despite travel disruption and consumer slump
Fulham Shore said that despite the ongoing economic turmoil and travel disruption across the UK, trading remains “resilient”.
The hospitality group told investors at its AGM this afternoon that it is on track to deliver 18 new restaurants in the current financial year as it continues to double down on expansion plans.
The firm has opened nine Franco Manca chains, and one The Real Greek spot since the start of the year, taking the total number of restaurants to 90 for the group.
Last month, Fulham Shore said revenue soared more than 100 per cent in the post-lockdown march back to restaurant dining.
The London-listed firm posted an operating profit of £6.7m in the year to 27 March, swinging from a £4.8m loss in 2021.
Despite the post-pandemic boom, shares have struggled to rally, and the stock has plunged 30 per cent in the last six months.