The owner of the Franco Manca chain of pizza restaurants gave a bullish trading update yesterday – but warned it faced a situation that was more ‘unstable than at any time in recent memory’.
Fulham Shore could not say how trading would develop this year as costs soar and consumer confidence falls.
But the restaurant group, which also owns The Real Greek chain, said economic gloom would not affect openings and had not slowed its bumper sales growth.
Sales up: But Franco Manca-owner Fulham Shore could not say how trading would develop for the rest of the year as it grapples with soaring costs and falling consumer confidence
In the six months to the end of September, trading was in line with expectations, with sales 35 per cent higher than pre-Covid levels.
Sales were also 25 per cent higher than the same time a year earlier.
The firm has opened four Franco Manca sites and two The Real Greeks since the end of August. It now has 95 restaurants.
By the end of March it expects to have 18 more. The news sent shares up 1.27 per cent, or 0.13p, to 10p.
Shore Capital leisure analyst Bradley Hughes said it was a ‘stand-out update in an otherwise bleak sector’.
