The Caterer

Revolution Bars Group sees adjusted pre-tax profit growth of 10.8%

04 October 2016 by
Revolution Bars Group sees adjusted pre-tax profit growth of 10.8%

Revolution Bars Group has reported a 10.8% increase in adjusted pre-tax profit to £9.2m, according to the company's preliminary results for the year to 30 June 2016.

The operator of more than 50 bars under the Revolution and Revolución de Cuba brands also saw a 6.9% increase in turnover to £119.5m and a 2.3% rise in like-for-like sales.

Meanwhile, adjusted EBITDA increased by 6.8% to £15.6m.

Following the opening of five new sites in the reported year, a further five sites are planned for the current year.

Revolution's chief executive Mark McQuater said the company's strong performance during its first full year as a listed company was achieved through continually improving the performance of the estate and the successful new launches.

"The Group is benefiting from its growth in scale and the establishment of its second brand Revolucion de Cuba brand, which expanded from five to nine branches," he explained. "We also opened a Revolution in the year. The new sites are performing well.

"Reflecting our confidence in our strong operating model and overall debt-free balance sheet we will open another five bars in our current year, building on the success in 2015. Three new Revolución de Cuba bars in Harrogate, Reading and Aberdeen are expected to open before Christmas 2016.

"This financial year has begun well, with recent trading robust, with like-for-like sales of 1.8% in the first 12 weeks of the current financial year."

Annual like-for-like sales at Revolution Bars Group up 2.3% >>

Sean Curran to leave Revolution Bars Group >>

Revolution Bars to open three new sites >>

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