Franco Manca revenues jump 9.3% in half-year results

Fulham Shore, parent company of Franco Manca and Real Greek has reported a 9.3% increase in revenues to £36m compared with £33m in 2018, in the six months to 29 September.

The group also reported EBITDA was £8.4m after the adoption of accounting method IFRS 16, compared with £4.6m last year. Prior to the adoption of IFRS 16 the group also reported an EBITDA of £5m.

Operating profit for the company was £2.1m after introducing the method compared to the £1.5m before. During the same period last year operating profit was reported at £1.6m.

During the six months to 29 September, Franco Manca has opened six sites alongside one Real Greek restaurant, whilst the seventh Franco Manca restaurants opens today at Bishopsgate, London (16 December) as well as another Real Greek restaurant being opened by Tower Bridge, London. 

Commenting on the results, chairman of Fulham Store, David Page said: “We are pleased to have delivered good performance during the first half of the current financial year with revenue increasing by 9.3% across the group. 

“The performance was driven by seven successful new restaurant openings as well as increased customer numbers in our restaurants. This demonstrates the exceptional quality and value-for-money proposition at both Franco Manca and The Real Greek.”

He added: “Looking ahead, the Board remains confident that Fulham Shore is well positioned for continued growth and a great future. We look forward to continuing this positive momentum in the period ahead.”