The owner of pizza chain Franco Manca said it had identified 150 sites for potential new restaurants as the pandemic blows open new opportunities for eateries in expansion mode
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Franco Manca, known for its sourdough pizzas, has 55 sites across the UK, all of which are now open following the lifting of lockdown restrictions, said owner Fulham Shore.In a statement to the market on Tuesday, the group said that it would open 10 new Franco Manca sites this financial year, in addition to identifying 150 new sites to potentially expand to in the future.
This was despite booking a loss for the year of £4.8m, compared with a profit of £1.8m the previous year.But the company's boss said that since March of this year the restaurants had performed well, boosted by the easing of restrictions on eating out. "Since the beginning of the current financial year commencing March 29, the group has continued to trade profitably and ahead of management expectations, driven by strong performances across our suburban restaurants," said David Page, executive chairman of Fulham Shore.
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