Terror attacks in London and Manchester caused a brief knock in Revolution Bars’ sales in the final stint of its financial year.
The terrorist attacks in Manchester on 22nd May and in London on 3rd June impacted business during the days that followed, particularly in the North West where the Group has a significant number of venues, according to the chain group.
In the five weeks that followed the Manchester suicide bombing and the Borough Market attack sales in the bar chain fell 2% compared to the same time period in 2016.
The company, which boasts 68 locations, managed to recover following its financial lull. Total sales for the year to July 1st are up 9%, better than the 7% for the same period last year.
As planned, the Group opened six new bars in the period. Revolución de Cuba bars at Harrogate, Reading, Aberdeen and Glasgow, all of which were opened in the first half, were followed by new Revolution bars in Southend (late April) and Torquay (late May). Average weekly sales for the bars opened during the Period are ahead of the Board’s expectations.
The Revolution bar in Macclesfield closed in early May for a relaunch in the coming months, while a further Revolución de Cuba bar opened in Belfast at the end of last week.
The business continues to deliver high returns on invested capital and the Group plans to open six new bars in the new financial year, including Belfast that has just opened, split equally between the two brands.
A spokesperson from Revolution said: “The directors remain confident of the current strategy, the underlying strength of the business, its brands and the strong customer proposition, which has resulted in over three years of consistent like-for-like growth.”
The Group currently operates 54 locations under the Revolution format and 14 under the Revolución de Cuba format. Total sales for the year came to £130m, an increase of 9%, with final results set to be confirmed in October.