WASHINGTON: Fulham Shore generated revenue of £13.9m in the six months to 27 September (2014: £5.5m) and made headline operating profit of £1.7m (2014: £0.9m).
The results reflect a full six months trading from The Real Greek and the Franco Manca restaurant in Tottenham Court Road in London which was run under a franchise agreement and five months trading reflecting the post-acquisition results of Franco Manca.
The group opened one The Real Greek restaurant in St Martin’s Lane in London’s West End and 3 Franco Manca pizzeria in Soho, Ealing, and Covent Garden in the period. This took Fulham Shore’s restaurant portfolio as at 27 September to 24 restaurants made up of 9 The Real Greek and 15 Franco Manca pizzeria.
Although the group did not complete the acquisition of Kefi Limited (the holding company of The Real Greek) until after the comparative period end, under the requirements of IFRS, the acquisition was deemed a reverse acquisition and therefore the comparative results for the six months ended 28 September 2014 is that of Kefi Limited and its subsidiaries.
