Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Franco Manca and Real Greek operator poised to take advantage of lowering rents

28 August 2019 by
Franco Manca and Real Greek operator poised to take advantage of lowering rents

Franco Manco and the Real Greek operator Fulham Shore has said it will continue to take advantage of lowering rents in its expansion of the casual dining brands.

In an update for the first 21 weeks of the financial year, the group said revenues had increased year on year, driven by openings and increased customer numbers for pizza brand Franco Manca.

The heatwave in 2018 had benefited the Real Greek and revenues had been slightly behind last year until recently.

Fulham Shore has opened five Franco Manca sites in the 21 weeks, with its 50th planned for Manchester. The 17th Real Greek is set to open in the Strand, London, taking the group portfolio to 67 restaurants.

A statement published ahead of the group's AGM today read: "We are in negotiations to secure a number of sites for the current and next financial year. As previously announced, we will continue our policy of funding new restaurant openings largely through internally generated cash flow.

"We continue to see more properties coming to the market at ever lower rents as a result of the current conditions in the wider property, retail and dining out sectors, and will continue to take advantage of these as and when is appropriate."

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking