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Restaurateur Fulham Shore said performance for the current fiscal year was ahead of expectations after losses swelled a year earlier, owing to pandemic trading restrictions.
'Since the beginning of the current financial year commencing 29 March 2021, The group has continued to trade profitably and ahead of management expectations, driven by strong performances across our suburban restaurants,' the company said.
For the year ended 28 March 2021, pre-tax losses widened to £7.5 million from £0.8 million as revenue decreased 41.3% to £40.3 million year-on-year.
Two new Franco Manca pizzeria and one new The Real Greek restaurant were opened during the year ended 28 March 2021 in the UK, compared with seven Franco Manca pizzeria and two The Real Greek restaurants opened a year earlier.
'As of August 2021, all of Fulham Shore's 74 restaurants were fully open and trading, supported by additional safety precautions and training for restaurant staff across both brands,' the company said.
Since the beginning of our current financial year, we have continued to trade profitably at Headline EBITDA level, ahead of our internal expectations even before the further relaxation of restrictions which occurred on 19 July 2021.