Restaurants

Post-pandemic recovery to enable Fulham Shore portfolio expansion

The ‘very encouraging sales performance’ represented a 92% like-for-like sales comparison despite the reduced capacity due to social distancing

Fulham Shore, the owner of Franco Manca and The Real Greek, has announced a continuation of its opening pipeline due to a strong trading performance since the reopening of indoor hospitality.

In a trading update on the London Stock Exchange, the restaurant group revealed that group revenues from 17 to 23 May 2021 were circa 103% of group revenues from the same period in 2019.

The “very encouraging sales performance” represented a 92% like-for-like sales comparison despite the reduced capacity due to social distancing.

In turn, Fulham Shore announced that it plans to continue its three-year portfolio expansion strategy, following the recent openings of Franco Manca on High Holborn in London and the upcoming launch of Franco Manca on Mitchell Street in Glasgow.

The group said: “As a result of this trading performance, the group continues to plan the opening pipeline for the next three years. 

“Our property team is travelling around the UK looking for new properties and we have a number of sites that are currently in legal negotiations.”

Some 71 of the Fulham Shore’s 73 restaurants across the UK are now open for dining indoors, with the remaining two sites in Covent Garden set to reopen at the beginning of June.

Moreover, the group claimed that Franco Manca’s loyalty scheme users have doubled since the beginning of the pandemic to over 220,000.

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