Revolution Bars Group has today reported a sales rise for the second half of last year, culminating in a good Christmas trading period.
Like-for-like sales were up 2.7% in the 26 weeks to December 26 at its Revolution and Revolución de Cuba bars that have been trading continuously from the same site for at least 12 months.
Overall sales, including contributions from new bars, were up by nearly 2% to £59.1m for the same period. A further two new sites are due to open by June, bringing the estate up to 62.
With full half-year results due to be published on March 1, Revolution Bars Group said that trading figures were expected to be in line with market expectations, reflecting a further period of growth in revenue, profit and its number of sites.
The group opened three new Revolución de Cuba bars in the half-year period in Milton Keynes, Leeds and Nottingham. It reported that trading for these sites was ahead of pre-investment expectations.
Chief executive Mark McQuater (pictured) said: “Following a good Christmas trading period, we are pleased to confirm that trading results are in line with expectations.
“Our new sites at Milton Keynes, Leeds and Nottingham have all started trading well. These sites were open and trading for the Christmas period and, for the six weeks to January 2, group sales rose by 7% compared to the prior year, indicating the impact of adding new bars.
“We expect to open a further two new sites in the second half, which will grow the estate from 57 to 62 sites over the course of the financial year. We continue to develop our pipeline.
“We remain positive for the future and will be providing an update on first-half profits and the success of our development activity at our interim results on March 1 2016.”