AGM Statement and Trading Update

RNS Number : 6245Y

Fulham Shore PLC (The)

23 August 2018

 

23 August 2018

The Fulham Shore plc

 ("Fulham Shore" or "the Company")

AGM Statement and Trading Update

At today's Annual General Meeting David Page, the Chairman of the Company, will make the following statement:

Current trading

There have been encouraging revenue increases in both Franco Manca and The Real Greek in the first 21 weeks of the financial year. The increased revenue has been generated predominantly from a slightly greater number of transactions in both of our businesses and is driven by menu innovation, the quality of food, the value of our propositions and dedication of our team.

In the 2019 financial year to date, Fulham Shore has opened two Franco Manca pizzeria, in Bath and Cambridge, and closed one Franco Manca in Brighton Marina. This takes Fulham Shore's restaurant portfolio to 58 restaurants in the UK, comprising 16 The Real Greek and 42 Franco Manca, as well as one Franco Manca franchise in Italy.

Opening programme

We are in the final stages of negotiations for a number of locations for the current and coming financial year. As previously announced, we will continue to fund new restaurant openings largely through internally generated cash flow. We are seeing more properties coming to the market as a result of the current conditions in the wider retail and dining out sectors. We will continue to assess these opportunities and respond accordingly.

For further information please contact:

The Fulham Shore plc	www.fulhamshore.com
David Page	Tel: [phone]
Allenby Capital Limited Nick Naylor / Jeremy Porter / James Reeve	Tel: [phone]
Hudson Sandler - Financial PR Alex Brennan / Lucy Wollam	[e-mail] Tel: [phone]

Notes for editors

Information on The Fulham Shore PLC

Fulham Shore was incorporated in March 2012. The Directors believed that there were attractive investment opportunities within the restaurant sector in the UK and that, given their collective experience in the restaurant sector, they could take advantage of the opportunities which existed.

The ordinary shares of the Company were admitted to trading on AIM in October 2014 in order to capitalise on such opportunities and to give the company employees, customers and public the ability to share in the enterprise.

Today, Fulham Shore owns and operates "The Real Greek" (www.therealgreek.com) and "Franco Manca" (www.francomanca.co.uk) restaurants.

The Real Greek

Since its foundation in London in 1999, The Real Greek has grown steadily, now offering modern Greek cuisine in 16 restaurants across London and Southern England.

The Real Greek food centres on the delicious, healthy diet of the Eastern Mediterranean, staying true to the Greek ethos of food, family and friends. Dishes are created using premium ingredients sourced from Greece and Cyprus whenever possible, and developed by Tonia Buxton, the face of Greek food in the UK.

The Real Greek's menu and atmosphere retain the spirit of eating in Greece, encouraging diners to take their time eating amongst friends and family, be it a relaxed dinner, family get-together, or a fully catered party.

Franco Manca

Franco Manca opened its first restaurant in 2008 and now has 42 restaurants, primarily in London, but with recent openings in Cambridge, Bath, Oxford and Bristol. Other locations outside London are in the opening pipeline for the next 12 months. Franco Manca also has a franchised pizzeria on the island of Salina in Italy.

Franco Manca's pizza is made from slow-rising sourdough and is baked in an oven that produces high heat. The slow levitation and blast cooking process lock in the flour's natural

aroma and moisture, giving a soft and easily digestible crust. Where possible, locally sourced and organic ingredients are used. Pizza prices start from £5.00.

Franco Manco has received the following accolades:

Winner of the R200 Best Value Restaurant Operator- Over 20 Sites Award 2017

Winner of MCA Retailer's Retailer Awards Best Concept award 2017

Winner of the CGA Peach Hero and Icon Awards Best Concept award 2016

 

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