4th Nov 2021 12:24
Fulham Shore PLC - owner of the Franco Manca restaurant chain - Says trading continues strongly, with revenue at its 17 restaurants in the West End of London and city centre office locations performing "particularly well" since AGM in late September, with sales now 3% ahead of 2019. "This strong revenue growth post September 2021 continues to be ahead of management's expectations," it says. Also, since September, the company has opened a Franco Manca in Blackheath Village, London, taking total number of restaurants operated by the firm to 76.
Fulham Shore fully repays the GBP8.5 million remaining balance of its UK government backed GBP10.7 million coronavirus large business interruption loan, which supported the business at the height of lockdown uncertainty in 2020. In addition, the company enters into an extension of its revolving credit facility with HSBC from March 2022 to November 2024 and an increase of this facility to GBP17.0 million from GBP14.3 million.
Current stock price: 18.00 pence, up 7.5%
Year-to-date change: up 90%
By Evelina Grecenko; [email protected]
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