Revolution Bars Group has today reported that like-for-like sales were up 5.9% over the festive period despite inclement weather.
The figures, relating to bars open for over a year, were part of a general upturn for the company in its first half, with like-for-like sales in the 27 weeks to January 6, 2018 up 1.9%, including a 14-week second-quarter performance up 3.1%.
Total revenue for the 26 weeks to the end of December 30 – the first half of the group’s financial year – rose 10.6% to £73.7million. Four new venues opened during this period: Revolucion de Cuba in Belfast in July plus Revolution bars in Solihull, Inverness and Putney in London all opening in late December.
The company stated that “these results are all the more pleasing as they were delivered against a backdrop of inclement weather mid-month in December and between Christmas and New Year”.
The figures for the four-week festive season built on last year’s record results when it enjoyed even stronger like-for-like year-on-year growth.
The half-year sales upturn was achieved during an unsettling period for the group which saw off a takeover approach from Stonegate Pub Company and a merger offer from The Deltic Group.
Executive chairman Keith Edelman said: “I am delighted with our sales performance in the second quarter and over Christmas. This is the fifth year that the group has recorded record results over the key trading period and again demonstrates the appeal of our brands.
“This excellent result underlines that the group is delivering on its strategy of expanding the two brands whilst continuing to drive like-for-like growth in the core estate.”
With full interim results for the six months due to be published on March 2, the board said it expected trading results to be “in line with its expectations, reflecting continued growth in the number of venues, revenue and profits”.