Wheel of fortune turns for Revolution to tune of £111.8m

NEWLY-listed Revolution Bars Group is toasting a 2.9% increase in revenue to £111.8m in its preliminary results for the year ended June 30.

The Ashton-under-Lyne Group is also celebrating record profits – measured by adjusted EBITDA – of £14.6m with adjusted profits before tax of £8.3m (2014: £7.4m), a rise of 12%.

The figures exclude exceptional items, which totally £5.4m. which include the £4.2m cost as a consequence of the IPO and a provision for an “onerous lease” in relation to a leasehold site in Lancaster which cost £1.2m.

But the future looks bright for the company which launched on the London Stock Exchange in March, with five new sites planned for the year to June 2016.

Chairman Keith Edelman, said: “The future, in a highly competitive and changing market, is an exciting one and one in which the Board and management are highly alert to the challenges created.

“Our performance in 2015 has given us a solid platform and our current pipeline of new bars gives us the confidence that we can grow the footprint of the Group.

“With a clear strategy and our depth of management experience, we remain confident that the business is well positioned for future growth and we expect to make continued progress in 2016.”