Revolution Bars Group has today reported increases in earnings and like-for-like sales as it looks ahead to more growth and new bars.
The operator of Revolution and Revolución de Cuba bars has seen a 4% rise in earnings (EBITDA) on the back of a 2.2% increase in revenue to £59.2m for the six months to December 31.
Like-for-like sales at bars that have been trading continuously for at least 12 months were up a healthy 2.7%. Pre-tax profits were up 9% to £4.7m.
During the six months, the group opened three new bars in Milton Keynes, Leeds and Nottingham (pictured) as Revolución de Cuba, the brand focusing more on rum and Cuban food, expanding its estate to 60 sites with 52 as Revolution and eight as Revolución de Cuba.
The group is on course for further expansion with a Revolution set to open in Stafford and a Revolución de Cuba in Liverpool before July.
Chairman Keith Edelman said: “This is another strong set of results for Revolution Bars Group, underpinned by strong like-for-like sales growth and improved profit margins.
“Particularly pleasing was the opening of three new Revolución de Cuba bars, all of which have performed well in early trading. With two more bars scheduled for opening in the second half, we are confident of meeting our strategic growth targets.”