Italian restaurant chain, Franco Manca has announced it is to increase its expansion plans after its owner, Fulham Shore posted a 35% pre-tax profit rise for the six months up to 23 September 2018.
Franco Manca also experienced a 20% increase in year-on-year revenue up to £33m, whilst earnings before tax reached £4.6m, a £100,000 rise. Profit before tax at Franco Manca rose by £400,000 to £1.5m.
Following the results, the company announced it was to increase plans which have already seen the chain open two new restaurants for the period, with another opening just after the end of H1. Franco Manca’s expansion is planned for completion in 2020.
Chairman of Franco Manca, David Page said: “Our two restaurant businesses performed well in the first half of the year, driven by a number of factors, including new menu initiatives, including vegan and gluten-free options, within both businesses, and investment in our digital channels.
“At the same time, we have remained resolutely focused on both Franco Manca’s and the Real Greek’s standout characteristics: exceptional food provenance and outstanding value for money menu pricing.”