Shares in Franco Manca owner Fulham Shore (FUL) plunged 22 per cent on the day the group revealed cash profit for the current financial year will fall short of market expectations.
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Trading weakened significantly over the summer, especially at locations across London suburbs. That’s despite a benign pricing environment, as Fulham Shore has kept prices flat for fear of alienating customers. The group also plans to pay the national living wage in accordance with legislation – all of which is putting pressure on the bottom line. It also plans to offload its singular franchise of the Bukowski Grill as it simplifies operations.
