The owner of restaurant chains Franco Manca and The Real Greek has said that its restaurants have stayed busy despite rising living costs shrinking people’s real incomes and ongoing train strikes.
Fulham Shore, which operates 90 restaurants across the UK, told shareholders on Wednesday that its businesses were performing in line with the expectations.
The group has opened ten new restaurants and plans to build another 18 in the current financial year.
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It says fitting-out works are ongoing at Wales’s first Franco Manca, in Cardiff, as well as at pizzerias in Chichester, Hove and Lincoln. The Real Greek restaurants are being built in Gloucester and Solihull, while contracts have been exchanged for a new site in Edinburgh.
David Page, executive chairman of Fulham Shore, said: “Despite the disruption caused by rail strikes our restaurants old and new provide a great space for people to meet and enjoy time with family, friends and colleagues.”
The group said: "Despite the turmoil in the UK economy and the recent sporadic train and tube disruption, group trading is resilient and running in line with management expectations."
However, analysts pointed out that the group did not address how its restaurants might be impacted by soaring energy prices, which are set to drive up operating costs for businesses up and down the country.
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