Franco Manca owner reports small profit due to Real Greek acquisition

31 July 2015 by
Franco Manca owner reports small profit due to Real Greek acquisition

Fulham Shore, the operator of 24 Real Greek and Franco Manca restaurants, has reported operating profit of £25,000 in its first results for the newly formed group.

It acquired the Real Greek group of restaurants in October 2014 and completed a £27.5m deal for Franco Manca in March 2015.

As its purchase of the Real Greek was considered a reverse acquisition, the accounting period covers the nine months to 29 March 2015.

In the period it reported revenues of £8.3m with an operating profit of £25,000, having taken into account the costs related to the acquisition of Real Greek owner Kefi Limited.

During the period directors of Fulham Shore received £360,000 in remuneration.

Since the period end, Fulham Shore acquired Franco Manca and opened three new sites in Covent Garden, Soho and Ealing. It has further plans for restaurants in Earls Court and Bermondsey.

Chairman David Page said: "We are excited about the new financial year with the prospect of expanding our two excellent restaurant businesses, the Real Greek and Franco Manca."

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