Fulham Shore PLC (AIM:FUL), the group behind The Real Greek and Franco Manco, has seen a tasty rise in its share price after a positive trading and financing update.
The AIM-listed group's restaurants were reported to be trading ahead of the comparative period in 2019 and ahead of expectations.
Its 17 restaurants in London have performed particularly strongly, trading 3% higher than in 2019 as office workers and tourists returned after the pandemic lockdowns.
Since its last update Fulham Shore has opened a Franco Manca in Blackheath Village, London, taking its total number of restaurants operated to 76 (56 Franco Manca and 20 The Real Greek).
Fitting out works are underway in a further Franco Manca on Baker St, London, W1 and another two Real Greeks - in the Bluewater Shopping Centre, Kent and at The Corn Exchange in the centre of Manchester.
There are 20 more potential sites in solicitors' hands for both new Franco Manca and The Real Greek restaurants.
It is also expanding internationally, with a franchise agreement for Greece with plans for a minimum of six restaurants to be opened over the next three years. It is also in discussions about sites in Europe, the Middle East and Africa.
As for finances, it has extended its revolving bank facility by two years and increased the size from £14.25mln to £17mln.
It has also repaid the £8.5mln remaining balance of its UK government-backed £10.7mln coronavirus loan.
Chairman David Page commented: "Fulham Shore continues to experience growing sales across both our businesses. Many of our restaurants throughout the UK continue to break trading records on a regular basis.
"We are accelerating our growth in the UK and abroad. We continue to trade ahead of our own expectations and have a strong pipeline of exciting new locations."
Its shares are up 8.96% at 18.25p.