The Real Greek and Franco Manca operator, The Fulham Shore saw revenue soar to £13.9m in the first half ended 27 September from only £5.5m a year earlier after new additions to its restaurant portfolio began to make an impact.
However, the company's pretax profit still fell to £187k from £747k a year ago as higher administrative and exceptional costs offset the material revenue rise, mainly driven by the company's rapid expansion.
The six month period was the first full set of results to benefit from the company's acquisition of a 99% stake in Franco Manca Holdings Ltd, which owns the 18-strong Franco Manca group of restaurants which specialise in Neapolitan sour-dough pizza. The Fulham Shore purchased that stake for GBP27.5 million, split unequally in cash and shares back in April.
It was also the first six month period to recognise a full half of results from The Real Greek restaurant in London's West End, pushing the company's portfolio of restaurants at the end of the period up to 24, comprising of 9 The Real Greek eateries and 15 Franco Manca pizzerias.
Two further Franco Manca restaurants opened in Bermondsey and Wimbeldon since the end of the first half, pushing its portfolio up to 27 eateries. Work is currently underway on another Franco Manca restaurant in Stoke Newington, which is scheduled to open in March.
The Fulham Shore also has the Bukowski franchise restaurant, which is set to open in the spring of 2016.
The Real Greek and Franco Manca are planning to open new restaurants in 2016, mainly in London and the Home Counties. Contracts have been exchanged on three sites in Brighton, Guildford, and the large office and retail development of Nova Victoria behind Buckingham Palace.
For the first time, the group expects to be opening Franco Manca pizzeria outside London during the financial year to March 2017.