Sales are up across Revolution and Revolución de Cuba bars although business was affected by the repercussions of the terrorist attacks in Manchester and London.
In a trading update today, Revolution Bars Group reported that total sales for the year to July 1 were up 9.3% to £130.4m after it opened six new bars.
Like-for-like sales, covering only established bars, were up 1.5% for the 52 weeks but this was not as good as the 1.7% rise reported after 44 weeks.
“The terrorist attacks in Manchester on 22 May and in London on 3 June impacted business during the days that followed, particularly in the north-west where the group has a significant number of venues – five in central Manchester and five in Liverpool,” the company said in a statement.
However, like-for-like sales have picked up again over the last six weeks, running at 2.7%.
As planned, the six openings over the past year were Revolución de Cuba bars at Harrogate, Reading, Aberdeen and Glasgow, all of which were opened in the first half of the financial year, followed by new Revolution bars in Southend in Essex in late April (pictured) and Torquay in Cornwall in late May. “Average weekly sales for the bars opened during the period are ahead of the board’s expectations,” the company added.
The Revolution bar in Macclesfield closed in early May for a relaunch in the coming months, while a further Revolución de Cuba bar opened in Belfast at the end of last week. The group currently trades from 68 sites – 54 under the Revolution format and 14 under the Revolución de Cuba format.
The statement added: “The business continues to deliver high returns on invested capital and the group plans to open six new bars in the new financial year, including Belfast that has just opened, split equally between the two brands.
“The directors remain confident of the current strategy, the underlying strength of the business, its brands and the strong customer proposition, which has resulted in over three years of consistent like-for-like growth.”
Revolution Bars Group will release its full results for the year on October 3.