Fulham Shore eyes dividend as expansion continues

Franco Manca and The Real Greek owner Fulham Shore expects both revenue and headline EBITDA to top last year's figures and match market expectations thanks to increased customer numbers in its existing restaurants and new restaurant openings.

Fulham Shore told investors on Thursday that both its restaurant businesses had steadily increased turnover in each quarter of its current financial year, both in total revenue and year-on-year, culminating in a "particularly strong trading performance towards the end of the financial year".

While it did not supply any figures for the trading year set to end on 31 March, the AIM-listed outfit did note that it would consider formulating a dividend policy over the coming financial year, reflecting the board's continued confidence in its outlook.

Looking forward, Fulham Shore stated that, assuming its customer numbers continue to grow, the group plans to open "an increased number of restaurants" across both brands in the financial year ending March 2020.

Fulham Shore will finance its increased opening schedule by internally generated cash flow.

"Both businesses continue to trade well and in-line with the board's expectations and we remain confident that the group will continue to thrive over the coming years," said Fulham Shore.

As of 1040 GMT, Fulham Shore shares had picked up 4.89% to 11.80p.