28th Mar 2019 09:40
LONDON (Alliance News) - Fulham Shore PLC on Thursday said it expects both revenue and earnings ahead of the previous year, due to increased customer numbers in existing and new restaurants.
Shares in the restaurant chain operator rose 4.9%, trading at 11.80 pence each.
For the financial year ending on Sunday, the owner of Franco Manca pizzerias and The Real Greek said that both businesses have each quarter "steadily increased their turnover" compared to a year before, leading to a "particularly strong trading performance" towards the end of the year.
For the year ended March 2018, Fulham Shore posted revenue of GBP54.7 million and adjusted earnings before interest, taxes, depreciation and amortisation of GBP5.6 million.
The company added that its Franco Manca operations are achieving growth, while The Real Greek restaurants continue to benefit from good trading, especially in warmer, sunny weather due to the availability of outside seating.
The company will end the year with 61 restaurants, of which 45 are Franco Manca and 16 The Real Greek. However, it is planning to ramp-up openings for both Franco Manca and The Real Greek.
"Assuming our customer numbers continue to grow and trading continues to be robust, we plan to open an increased number of restaurants across both brands in the financial year ending March 2020," Fulham Shore added.
Over the coming year, the company plans to establish a dividend policy which will reflect the board's "continued confidence in the outlook for Fulham Shore".
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