The Fulham Shore Plc (“FUL”) has reported a trading update stating that the Group experienced a slowdown in trade in July and August. This slowdown, combined with a rising fixed cost base as the Group expands its number of restaurants, has led the Board to expect FY 2018 headline EBITDA to be below expectations. Whilst the slowdown may prove temporary, given the struggles being felt across the UK casual dining sector we assume a longer-term impact and have reduced our 2018 and 2019 headline EBIT ....
