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By Steve Moore | Thursday 23 August 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Fulham Shore (FUL) has updated including on “encouraging revenue increases” and negotiations for a number of locations amidst “more properties coming to the market as a result of the current conditions in the wider retail and dining out sectors”…
The Franco Manca (pizza) and The Real Greek restaurant group notes, including after “menu innovation”, revenue increases in both Franco Manca and The Real Greek “generated predominantly from a slightly greater number of transactions”.
In the 21 weeks of its year to date, two Franco Manca’s have been opened (Bath and Cambridge) and one closed (Brighton Marina), with it added it is “in the final stages of negotiations for a number of locations for the current and coming financial year” and will continue to assess the property opportunities resulting from the current market environment “and respond accordingly”.
I though note no new profit or cash insight is provided – it just included “as previously announced, we will continue to fund new restaurant openings largely through internally generated cash flow”.
As at the last year-end though there was £12 million of net debt against an even-on-an-adjusted-basis operating profit of £3.7 million (down from £4.9 million the year before) – and I thus look to half-year results bottom-line detail before reconsidering a cautious stance here.
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