Franco Manca owner Fulham Shore has revealed plans for five more pizza sites this year having reported an operating profit of £3.3m in its first full year operating the restaurants.
Fulham Shore, which currently operates 34 Franco Manca restaurants, nine the Real Greek sites and one Bukowski Grill, grew turnover to £29m for the year to 27 March 2015 from £8.3m for the nine months to 29 March 2015.
The headline operating profit of £3.3m was hit by a number of costs, including £405,000 in relation to the acquisition of Franco Manca and £374,000 for the reverse acquisition of Real Greek owner Kefi, taking the final operating profit figure down to £507,000.
In the year seven new Franco Manca pizzeria's were opened, with sites in Kentish Town and Bromley opening this month after the first openings outside London in Guildford and Brighton earlier this year. Fulham Shore has also exchanged contracts on sites in Southampton and Reading, in addition to new London locations, which include Victoria and Putney.
Chairman David Page said that the Brexit decision may cause turbulence to parts of the industry. He added: "However we feel that, as in previous periods of economic disruption, the restaurant businesses that offer best price and best product will prosper, as customers turn to real value."
He said that all staff were now paid above the National Living Wage, regardless of age, and that employees keep all tips "without any financial interference from ourselves".
He said: "Sites are available, our restaurants are busy and popular, our prices are good value and our staff are well motivated. We therefore look forward to the further expansion of our Franco Manca and The Real Greek businesses during the current year."
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