Revolution Bars Group upbeat about trading as it crosses 60-site mark

Revolution bars H1 trading update: Good progress with three new sites opened.

Revolution Bars Group has reported increased sales for the first half of its financial year, concluding with a good Christmas trading period.

The operator of 60 premium bars across the UK said that its trading results are expected to be in line with market expectations, reflecting a further period of growth in the number of sites, revenue and profit.

Like-for-like sales rose by 2.7% in the 26 weeks to 26 December 2015. Overall sales, including the contributions from new bars, were £59.1m for the same period.

The Group opened three new Revolución de Cuba bars in Milton Keynes, Leeds and Nottingham during the first half with trading for all sites ahead of pre-investment expectations. A further two sites are planned for the second half.

Mark McQuater, CEO, said: “Following a good Christmas trading period, we are pleased to confirm that trading results are in line with expectations.

“Our new sites at Milton Keynes, Leeds and Nottingham have all started trading well.  These sites were open and trading for the Christmas period and, for the six weeks to 2 January, Group sales rose by 7.0% compared to prior year, indicating the impact of adding new bars.

“We expect to open a further two new sites in the second half, which will grow the estate from 57 to 62 sites over the course of the financial year. We continue to develop our pipeline.”

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