The chef with no name 24 January 2020 How James Cochran lost the rights to his own name, and his triumphant comeback with Islington restaurant 12:51
In this week's issue... The chef with no name How James Cochran lost the rights to his own name, and his triumphant comeback with Islington restaurant 12:51
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Franco Manca operator posts boost to pre-tax profits as revenues grow

16 July 2019 by
Franco Manca operator posts boost to pre-tax profits as revenues grow

Pre-tax profits experienced a boost at Franco Manca and Real Greek operator Fulham Shore as well as growth in revenues and earnings.

For the year ending 31 March 2019 the firm announced a pre-tax profit of £1.4m, up from a £0.1m loss on the year before.

Meanwhile earnings before interest, tax, depreciation and amortisation picked up by £1.6m on 2018, rising to £7.1m in total. Revenue growth stood at 17%, rising from £54.7m to £64m.

The period was also accompanied by a reduction of net debt from £12m to £9.4m, and the launch of four new Franco Manca sites.

The openings, along with the closure of one location, meant the firm ended the financial year with nine Franco Manca sites and four Real Greek restaurants.

Since then a further three sites of the Neopolitan pizza concept have opened, with another two in the pipeline.

An earlier version of this article stated Fulham Shore's pre-tax profits dipped by £0.1m compared to the previous year. In fact, pre-tax profits rose from a loss of £0.1m in the financial year ending 31 March 2018, to a £1.4m profit in 2019.

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