During the half year to the end of December 2013, sales were up by 5% to £59million while earnings (EBITDA) increase by 41% to £6.7million. Catering sales grew strongly in the half year by 13%.
The performance in the first six months of the company’s current financial year has continued into the second half. It follows a tougher trading period in the previous fiscal year which saw profits decline for the first time since the company was taken private in 2006.
Chief executive Mark McQuater said: “I am delighted that the management team at New Inventive Bar Company has converted this performance-led plan into such a strong financial result in the current year.
“The company re-financed its bank facilities in December 2013 and is now looking at growing both its Revoluciὀn de Cuba and Revolution brands by opening new bars.”
The company, which this year changed its trading name from Inventive Leisure, has been going through significant change since Mark joined as chief executive in March 2013.
Since that time a number of new directors were appointed to key strategic areas of the business including operations, property, catering and drinks procurement.
The company has also undertaken an “Evolution Programme” which has resulted in a high-end transformation of its core Revolution brand.
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