Nightcap PLC - London-based bar operator - Posts higher quarterly sales for the 14 weeks ended April 3. Net sales rise 53% to £9.6 million compared to the same period in pre-pandemic year 2019. Two bars, The Cocktail Club in Exeter and Adventure Bar Group in Cardiff, started trading profitably after the reported period, Nightcap says. The group also signed four new leases which it expects to open before the end of June. ‘We have the cash required for our incredible teams to deliver on the strategy for their individual brands,’ adds Chief Executive Officer Sarah Willingham.
The group has a balance sheet with unaudited cash at bank of £7.6 million, it said.
Current stock price: 20.38 pence, up 5.8% on Friday
12-month change: down 39%
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