Late-night bar and club operator Deltic Group has reported a 8.2% rise in like-for-like sales over the festive period – a positive turn on the £1.48m loss reported last month.
For the four weeks to 31 December 2017, Deltic also saw pre-booked Christmas party bookings increase by 20% and had a record New Year’s Eve with 76,500 admissions and total sales of £2.4m, up 2.6% on the previous new year.
In December, Deltic reported a £1.48m loss before tax and a 2.3% drop in EBITDA to £13.3m due to “local competition and a warm and therefore quieter summer” during the 52 weeks to 25 February 2017.
This followed Deltic’s success acquiring 1,500,000 shares in Revolution Bars, amounting to a 3% stake in the company in November last year.
By the end of 2016, three quarters of Deltic’s sites had undergone major refurbishment with many being rebranded. The company also disposed of two freeholds not being used for trade in Blackburn and Luton.
Peter Marks, chief executive of the Deltic Group said: “The strong performance was further aided by the refurbishment programme that continues to yield great results, and the focus on entertainment and premium service and products. It is anticipated that the first full refurbishment programme will be completed over the coming financial year.”
Deltic currently trades under Pryzm, Vinyl, Fiction, Cameo, Kuda, Atik and new concept Bar&Beyond. During the financial period, three new Bar&Beyond sites were opened across the UK.
Videos from The Caterer archives