Proactiveinvestors United Kingdom Fulham Shore PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Fulham Shore PLC RSS feed en Sun, 21 Jul 2019 01:37:33 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190717070004_14152071/ Wed, 17 Jul 2019 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190717070004_14152071/ <![CDATA[News - The Fulham Shore strikes a bullish tone as diners tuck into sour dough pizzas ]]> https://www.proactiveinvestors.co.uk/companies/news/223982/the-fulham-shore-strikes-a-bullish-tone-as-diners-tuck-into-sour-dough-pizzas-223982.html Innovations such as a vegan Greek menu kept sales and profits rising at The Fulham Shore PLC (LON:FUL) over the past year.

The restaurateur scaled back its opening programme at the start of the year but still opened a net three Franco Mancas to make a portfolio of  63 outlets comprising 47 pizza outlets and 16 The Real Greeks.

Fulham Shore expects to have 68 outlets in total by the end of the current financial year.

David Page, chairman, said that fewer openings had improved its cash position and it was now considering a dividend as trading this year has started well.

“Against the background of the capital lavished on the UK restaurant sector over the last five years, we at Fulham Shore have improved Headline EBITDA in every reporting period since our admission to AIM in 2014.

“We are pleased to report the demand for both of our businesses continues to grow.

"We will continue to open new restaurants in carefully chosen locations, conscious of the property pitfalls that others have fallen into.”

Sales in the year to March just ended rose by 17% to £64mln, with headline profits 5% better at £7.8mln.

Pre-tax profits jumped to £1.4mln from a loss of £100,000 as impairment and share-based costs fell.

Shares rose 6% to 12.25p.

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Tue, 16 Jul 2019 09:11:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/223982/the-fulham-shore-strikes-a-bullish-tone-as-diners-tuck-into-sour-dough-pizzas-223982.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190716070005_14150305/ Tue, 16 Jul 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190716070005_14150305/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190627164112_14127790/ Thu, 27 Jun 2019 16:41:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190627164112_14127790/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190627163550_14127784/ Thu, 27 Jun 2019 16:35:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190627163550_14127784/ <![CDATA[News - The Fulham Shore ups expansion plans as diner numbers rise ]]> https://www.proactiveinvestors.co.uk/companies/news/217408/the-fulham-shore-ups-expansion-plans-as-diner-numbers-rise-217408.html Restaurateur The Fulham Shore PLC (LON:FUL) has upped its expansion plans following a pick-up in trading at both its chains.

Fulham, which owns Franco Manca and The Real Greek chain, confirmed results to end-March would be ahead of last year.

More customers were coming to the existing restaurants with new openings also providing a boost.

Year-end boost

Trading towards the end of the year was particularly strong said Fulham though both chains increased revenues each quarter over the past twelve months.

“Looking forward, assuming our customer numbers continue to grow and trading continues to be robust, we plan to open an increased number of restaurants across both brands in the financial year ending March 2020,” said the statement.

Four new Franco Manca stores opened during the year to take the size of the estate to 61 restaurants in total comprising 44 Franco Mancas in the UK, 1 Franco Manca in Italy and 16 The Real Greeks.

Shares rose 4.5% to 11.75p.

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Thu, 28 Mar 2019 08:26:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217408/the-fulham-shore-ups-expansion-plans-as-diner-numbers-rise-217408.html
<![CDATA[RNS press release - Year End Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190328070022_14018685/ Thu, 28 Mar 2019 07:00:22 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190328070022_14018685/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190107154001_13926374/ Mon, 07 Jan 2019 15:40:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20190107154001_13926374/ <![CDATA[News - Fulham Shore shares jump as Franco Manca and The Real Greek restaurants thrive ]]> https://www.proactiveinvestors.co.uk/companies/news/211047/fulham-shore-shares-jump-as-franco-manca-and-the-real-greek-restaurants-thrive-211047.html Franco Manca and The Real Greek owner The Fulham Shore PLC (LON:FUL) reported growing profit and revenues on the back of new menus and digital growth, sending its shares soaring.

The restaurant group said its operating profit rose a third to £1.6mln on revenues jumped a fifth to £33.0mln in the six months to September 23 and that it planned to increased its restaurant opening programme for 2020.

READ: Fulham Shore reports better sales at Franco Manca and The Real Greek

During the period, Fulham Shore opened two new Franco Manca pizzerias and opened a further Franco Manca in London after the period-end.

The company said in the half year, Franco Manca made over 2,000,000 pizzas, while The Real Greek served over 350,000 tables in the period.

"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,” chairman David Page said in a statement.

“During the current financial year to date we have seen sales and profit growth, improved operating cash flow, and reduced debt exposure for the Group. These factors, together with our successful new opening so far this year, have led us to consider increasing our opening programme beyond the current financial year,” he added.

Shares in the company were 12.3% up at 10.56p in early trade.

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Wed, 12 Dec 2018 09:19:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211047/fulham-shore-shares-jump-as-franco-manca-and-the-real-greek-restaurants-thrive-211047.html
<![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181212070003_13900099/ Wed, 12 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181212070003_13900099/ <![CDATA[RNS press release - Trading Update and Notice of Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181107070005_13857607/ Wed, 07 Nov 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181107070005_13857607/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181002110031_13813076/ Tue, 02 Oct 2018 11:00:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20181002110031_13813076/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180912115845_13788286/ Wed, 12 Sep 2018 11:58:45 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180912115845_13788286/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180824070005_13766899/ Fri, 24 Aug 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180824070005_13766899/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180823113655_13766267/ Thu, 23 Aug 2018 11:36:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180823113655_13766267/ <![CDATA[News - Fulham Shore reports better sales at Franco Manca and The Real Greek ]]> https://www.proactiveinvestors.co.uk/companies/news/203467/fulham-shore-reports-better-sales-at-franco-manca-and-the-real-greek-203467.html Franco Manca and The Real Greek owner The Fulham Shore PLC (LON:FUL) rallied after reporting ‘encouraging’ sales growth over the past five months.

Fulham Shore has issued two profit warnings over the past year but chairman David Page was more upbeat this time, saying both chains had seen increased transactions.

READ: Fulham Shore shares sink in early deals as results reveal site write-downs

A raft of restaurant chains have either closed or drastically scaled back their plans recently but Page added this backdrop is potentially an opportunity as more properties are coming onto the market due to the current tough conditions.

 “We will continue to assess these opportunities and respond accordingly,” he told shareholders at the annual meeting, adding the group was in final stages of negotiations for 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.“

This year, Fulham Shore opened Franco Manca pizzerias in Bath and Cambridge and closed one in Brighton Marina.

The portfolio now comprises 58 restaurants in the UK, of which 16 are The Real Greek and 42 Franco Manca, and one Franco Manca franchise in Italy.

Shares rose 8% to 12.25p.

 

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Thu, 23 Aug 2018 09:26:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/203467/fulham-shore-reports-better-sales-at-franco-manca-and-the-real-greek-203467.html
<![CDATA[RNS press release - AGM Statement and Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180823070007_13765297/ Thu, 23 Aug 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180823070007_13765297/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180809154713_13750405/ Thu, 09 Aug 2018 15:47:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180809154713_13750405/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180801160756_13740331/ Wed, 01 Aug 2018 16:07:56 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180801160756_13740331/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180730135804_13736361/ Mon, 30 Jul 2018 13:58:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180730135804_13736361/ <![CDATA[RNS press release - Grant of options ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180725170001_13731487/ Wed, 25 Jul 2018 17:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180725170001_13731487/ <![CDATA[News - Fulham Shore shares sink in early deals as results reveal site write-downs ]]> https://www.proactiveinvestors.co.uk/companies/news/201425/fulham-shore-shares-sink-in-early-deals-as-results-reveal-site-write-downs-201425.html Restauranteur Fulham Shore PLC (LON:FUL) shares shed more than 8% in Tuesday’s early deals after its full-year financial results revealed the impacts of property devaluations and unsuccessful sites.

The company, which operates the Franco Manca and The Real Greek brands, detailed £867,000 of impairments following the disappointment of a Franco Manca restaurant in Brighton Marina which failed to perform to expectations.

It is planned that the Brighton Marina restaurant will close later this year, and the company has now agreed to surrender the lease to the landlord.

Also during the reporting period, the company closed the only site under a third brand, a Bukowski franchise, recognising a £400,000 loss on its investment following the sale of £300,000 of lease and contents.

Fulham Shore told investors that it was now taking a cautious view of its property values and have written down the carrying value of three underperforming sites, resulting in a £900,000 impairment – of which, £500,000 relates to Brighton Marina.

Taking an overview of the restaurant market, the company described a structural imbalance exacerbated by the impacts of Brexit, fragile consumer confidence and inflationary pressures in the UK.

Nonetheless, it added: “Despite this backdrop, it has been a year of growth and strategic progress for the group. 

READ: Tuesday's FTSE 100 market report

“We believe that this demonstrates that Fulham Shore is well placed to ride out the UK economic turbulence as a dynamic operator with strong and popular businesses and a good portfolio of sites.”

In terms of the financial results, the company reported higher revenues at £54.69mln from £40.44mln in the preceding year, albeit the group’s operating profit narrowing markedly to £150,000 from £1.5mln in 2017 and it recorded a £150,000 loss after tax.

It presented a ‘headline earnings’ (EBITDA) figure of £7.43mln, up from £7.27mln.

Net debt stood at £11.99mln as at March 25, up from £5.9mln a year before.

The company opened a total of 13 new restaurants during the year, nine Franco Manca pizzeria and four Real Greek sites, and two further Franco Manca restaurants were opened in the current financial year (one in Bath and one in Cambridge).

It also described “encouraging” first-quarter sales for both restaurant brands whilst highlighting that further expansion will be approached with caution.

“Despite the growth we have reported and our positive first quarter in the current financial year, the remainder of the financial year is difficult to predict. Costs will, in all likelihood, continue to rise but maybe not as much as they did during the past financial year,” the company said.

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Tue, 24 Jul 2018 09:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/201425/fulham-shore-shares-sink-in-early-deals-as-results-reveal-site-write-downs-201425.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180724070006_13728362/ Tue, 24 Jul 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180724070006_13728362/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180713102244_13717216/ Fri, 13 Jul 2018 10:22:44 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180713102244_13717216/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180411164045_13601043/ Wed, 11 Apr 2018 16:40:45 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180411164045_13601043/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180411163547_13601038/ Wed, 11 Apr 2018 16:35:47 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180411163547_13601038/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180312140551_13563608/ Mon, 12 Mar 2018 14:05:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180312140551_13563608/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180312140025_13563597/ Mon, 12 Mar 2018 14:00:25 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180312140025_13563597/ <![CDATA[RNS press release - Trading Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180308153605_13560419/ Thu, 08 Mar 2018 15:36:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180308153605_13560419/ <![CDATA[RNS press release - Director Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180116100501_13497878/ Tue, 16 Jan 2018 10:05:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20180116100501_13497878/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20171215070003_13466558/ Fri, 15 Dec 2017 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20171215070003_13466558/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20171004070007_13385057/ Wed, 04 Oct 2017 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20171004070007_13385057/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170921070006_13370209/ Thu, 21 Sep 2017 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170921070006_13370209/ <![CDATA[RNS press release - PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907180001_13355874/ Thu, 07 Sep 2017 18:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907180001_13355874/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907121501_13355449/ Thu, 07 Sep 2017 12:15:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907121501_13355449/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907070007_13354499/ Thu, 07 Sep 2017 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170907070007_13354499/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906124722_13353772/ Wed, 06 Sep 2017 12:47:22 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906124722_13353772/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906124002_13353761/ Wed, 06 Sep 2017 12:40:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906124002_13353761/ <![CDATA[RNS press release - AGM Statement and trading update ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906070003_13352892/ Wed, 06 Sep 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170906070003_13352892/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170816092001_13331675/ Wed, 16 Aug 2017 09:20:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170816092001_13331675/ <![CDATA[RNS press release - Grant of options ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170731113526_13313155/ Mon, 31 Jul 2017 11:35:26 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170731113526_13313155/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170712070003_13291757/ Wed, 12 Jul 2017 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170712070003_13291757/ <![CDATA[RNS press release - Notice of Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170705070005_13284187/ Wed, 05 Jul 2017 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170705070005_13284187/ <![CDATA[RNS press release - PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170428070013_13207788/ Fri, 28 Apr 2017 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20170428070013_13207788/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161216070008_013069187/ Fri, 16 Dec 2016 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161216070008_013069187/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161031163103_013018856/ Mon, 31 Oct 2016 16:31:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161031163103_013018856/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161014181002_013002050/ Fri, 14 Oct 2016 18:10:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20161014181002_013002050/ <![CDATA[RNS press release - Directorate Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160926095231_012978490/ Mon, 26 Sep 2016 09:52:31 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160926095231_012978490/ <![CDATA[RNS press release - PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160908164337_012959724/ Thu, 08 Sep 2016 16:43:37 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160908164337_012959724/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160831070010_012948314/ Wed, 31 Aug 2016 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/15911/LSE20160831070010_012948314/