Franco Manca owner to open 11 sites amid strong trading
Trade has particularly been boosted by the return of tourists to London's West End and other cities around the UK
The Fulham Shore, owner of Franco Manca and Real Greek, has unveiled plans to open 11 new sites this year following a period of strong trading for the group.
The group said it has continued to trade well and in line with expectations during April and May 2022, serving over 100,000 customers per week in Franco Manca and over 40,000 customers per week in The Real Greek.
Trade has particularly been boosted by the return of tourists to London’s West End and other cities around the UK. Nonetheless, the group noted that its restaurants located in areas with a high proportion of offices still “have a way to go” to return to pre-pandemic levels, but are still showing continued improvement.
The group noted that industry-wide cost pressures have been mitigated by some menu inflation, successful negotiations on rent reviews and “strong trading “across the group’s restaurants in suburban areas and shopping centres.
Amid this strong trading, 10 new restaurants were added to the group in the financial year ended 27 March 2022, while three more have opened since the year end: The Real Greek in Newcastle and two Franco Manca pizzeria in Canterbury and Kingston upon Thames.
Eight further Franco Manca are now being fitted out throughout the UK, including in Peterborough, The Trafford Centre Manchester, Hove, Didsbury, Stockbridge Edinburgh, Windsor and King Street in Central Manchester.
In addition, the group has exchanged contracts on a site in Lincoln for Franco Manca and a site for The Real Greek in Gloucester Quays.
Overall, 11 new restaurants are said to be on track to open in the first half of this financial year to March 2023 with two further locations already contracted. The group said this will “go some way to reach our total target of 18 sites for the whole year”.
David Page, executive chairman, said: “We are pleased to report good trading during the first two months of the current financial year. This performance continues to be underpinned by the outstanding reputations for great value and high quality food enjoyed by both our restaurant businesses.
“Our new restaurant openings across the UK continue to trade very well, and we have an exciting pipeline of new sites for the remainder of the financial year. We continue to be very optimistic about the significant growth opportunities for new Franco Manca and Real Greek restaurants over the coming years.”