Revolution Bars Group, the listed operator of 66 bars across the UK, under the Revolution and Revolución de Cuba brands, has this morning reported a 2% rise in like-for-like sales in the 26 weeks to 31 December 2016.
The company said that trading results are expected to be in line with the Board’s expectations, “reflecting a further period of growth in the number of sites, revenue and profit”.
Overall sales for the half year, including the contributions from new bars, were £66.6m for the same period (2015: £59.1m), a 12.7% increase.
The group opened four new Revolución de Cuba bars in H1 FY17 in Harrogate, Aberdeen, Reading and Glasgow. It is currently on site at its fifth development in Southend on Sea which is due to open in H2.
Mark McQuater, chief executive, said: “I am delighted to report another period of good progress for the group. Continued investment in the business with new site openings in Harrogate, Aberdeen, Reading and Glasgow have further expanded our geographic footprint. We had a strong festive trading period across our existing estate and all of our new sites were open for Christmas and New Year where initial trading was encouraging, with group sales increasing 16.2% over the five week trading period. We continue to develop our pipeline and are currently on site at our fifth development in FY17 which will take the estate to 67 sites. We remain positive for the future prospects of the group.”
