franco manca financials
franco manca financials
First-half figures fall 7.7% to £32.4m but rival Franco Manca proves a hit with diners Sean Farrell Wed 28 Aug 2019 14.24 EDT Last modified on Thu 17 Sep 2020 04.37 EDT 15-Oct-2020 at 09:19 GMT. Franco Manca 2 UK Limited is an active company incorporated on 15 October 2009 with the registered office located in London, Greater London. Image: PA. 0 comment. The Board of The Fulham Shore PLC ("Fulham Shore" or the "Group") is today providing an update on trading ahead of the end of Fulham Shore's financial year on 29 March 2020. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. Our lenders are supportive and we have sufficient undrawn facilities available to manage the business through any anticipated period of closure. “If [eating out] can be done safely it is a good thing. The scheme offers diners 50% off meals eaten in the establishment on a Monday, Tuesday or Wednesday during August with the discount capped at £10 per head. There are currently 3 active directors according to the latest confirmation statement submitted on 5th September 2020. It says it is ready to flex the business should UK Government regulations change again and that its success trading during and post lockdown means its even better prepared for any significant future changes. Fulham Shore, Franco manca, The Real Greek, Casual dining Subscribe Our two popular restaurant businesses offer delicious food at great prices. 596/2014 ("MAR"). Pizza prices start from £5.00. Fulham Shore also says that the restaurant market in the UK was heading for a correction well before the Coronavirus outbreak. BUSINESSES in Cheshire East and West affected by Tier 2 coronavirus restrictions will receive additional financial support. Hospitality firms furloughed 1.4 million workers, more than any other sector of the economy. How to go omnichannel for restaurants to add revenue, let them eat veg: a guide to sustainability and creative vegetable cookery, Quick Take: Top 10 Data Trends That Matter For Hospitality, Align reopening plans with customer expectations, How the hospitality industry can win back customers after COVID-19, Download Velocity’s Little Black Book of Loyalty, Interprofessional Association of the Iberian Pig, Sign up to our free newsletter and get the latest news sent direct to your inbox. Related tags: “It’s all gone completely berserk since then,” said Page, adding that over the three days Franco Manca banked 130% of normal sales while The Real Greek managed 148%. 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. dataLayerNews.related_tags = sanitize_gpt_value2("Fulham Shore, Franco manca, The Real Greek, Casual dining"); I am nervous that we’re going to see rates start to climb. ", "They were driven to expand by historically cheap debt, supposed high exit multiples on sale of the businesses and run by management teams who had never experienced either a downturn in the UK economy or an oversupply in the restaurant sector. The number of diners visiting Franco Manca’s pizzerias had been increasing slowly since it reopened in July, but sales were still running below 2019 levels, says David Page, who chairs Fulham Shore, owner of the chain. lockdown restrictions to be reimposed on the city. for (var i=0; i < aTags.length; i++) There are currently 3 active directors according to the latest … There is currently little certainty around the duration of the impact on the the Group. var reg = new RegExp('\\W+', "g"); Fulham Shore says its business has “emerged in robust shape from this critical period” and without the coronavirus sales would have “exceeded market expectations”. Franco Manca opened its first restaurant in 2008 and now has 51 restaurants, primarily in London, but with recent openings in Edinburgh, Manchester, Leeds, Cambridge, Bath, Oxford and Bristol. var aTags = gptValue.split(','); Subscribe, By Joe Lutrario Monday to Wednesday is the new weekend according to the restaurant trade after sales went “berserk” during the first week of the government’s discount dining scheme. Casual dining restaurant group Fulham shore, the firm behind the Franco Manca pizza brand and the Real Greek, has endured a tough time in London's suburbs despite growing revenue 41% in the first half of its financial year. Despite the impact of the current situation, we remain confident that the two businesses will thrive once the market returns to normal. Until recently we were on target to meet or slightly exceed market expectations for the current financial year. “It has undoubtedly boosted confidence, and confidence equals sales for publicans and restaurateurs, especially now,” said its chairman, Tim Martin. But the crisis had had no material effect on trading in the 17 months to March 3, its most recently completed financial year. return vOut; The Company ended September 2019 with 50 UK Franco Manca restaurants after opening six in the 6m period (Greenwich, Birmingham, Exeter, Leeds, Edinburgh and Manchester) with a further London site opened since period end.
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