Steady Revolution for bar chain

Revolution Bars Group, the Manchester-based operator of the Revolution and Revolución de Cuba brands, has seen half year profits hold steady as it continues to invest in the growth of its portfolio.

Turnover hit £66.7m for the six months to the end of December 2016, an increase of 12.7% on the previous year, whilst operating profits remained at £4.7m.

Since the period end the company has seen like-for-like sales growth of 1.7% for the eight weeks to February 25.

During the period the group opened four new Revolución de Cuba bars at Harrogate, Aberdeen, Reading and Glasgow, in time for Christmas. The raft of openings in Reading, Aberdeen, Harrogate and Glasgow, created 400 jobs.

The total estate has grown to 66 units, with two more bars scheduled for opening in the second half of the year.

Mark McQuater, chief executive, said: “Our finely tuned operating model has delivered like-for-like sales growth and well planned expansion.”

He told TheBusinessDesk there were long term plans to boost the number of Revolution bars across the country, currently numbering 53, to a 100 at a rate of six year.

“It’s a long-term plan,” he said. “The brand is only half built, but we think there is room for them across the country.”

McQuater also said there were similar plans to build the Revolución de Cuba brand from its current 13 outlets to “50 to 60” over a similar amount of time.

“Our results show the brands have real legs. We are delighted with our progress.”

The company will pay an interim dividend of 1.65p.