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Hardman & Co Research on The Fulham Shore (FUL): Resilient first-half trading
Hardman & Co Research Hardman & Co Research on The Fulham Shore (FUL): Resilient first-half trading Fulham Shore reported robust trading in the first half, with revenues up 26%, to £50m. Higher pre-opening costs and the absence of various COVID-19 support measures restricted adjusted EBITDA to £6m (1H’22 £7m). However, the effect of the cost-of-living crisis and, more immediately, the transport strikes, has hindered current trading. The company is going to lower its expansion plans and focus on cash generation for the coming year. It has a strong balance sheet, with net cash of £2.8m at the half-year and a largely unused bank facility of £17m.
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1526589 03-Jan-2023