Revolution seeks more sites as sales rise

REVOLUTION Bars Group, the listed vodka and rum cocktail specialist, says it has had a good first half and is looking to open more sites.

The Ashton-under-Lyne-based company, which returned to the stock market in 2015 after a period of private equity ownership, trades at 60 sites at the moment. Most are under the Revolution vodka bar brand, but it’s developing its second brand, Revolución de Cuba.

In a trading update for the 26 weeks to Boxing Day, group sales, including contributions from new bars rose from £58m to £59.1m. Like-like-sales were up 2.7%.
 
The company said results are expected to be in line with market expectations, reflecting a further period of growth in the number of sites, revenue and profit.    

It opened three new Revolución de Cuba bars during the first half and the new sites in Milton Keynes, Leeds and Nottingham are all trading ahead of pre-investment expectations.

Chief executive Mark McQuater 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% 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.  We remain positive for the future and will be providing an update on first half profits and the success of our development activity at our interim results on March 1.”