Source - SMW
Revolution Bars Group posted a significant boost in revenue in its fiscal first half, as it rolled out new venues and enjoyed strong patronage over Christmas.

Revenue for the 26 weeks through December rose 10.6% to £73.7m after four new venues were opened in Belfast, Solihull, Inverness and Putney in late December. 

For the four-week period from December 4 to December 31, like-for-like sales rose 5.9%.

"This strong performance built on last years' record results when even stronger like-for-like year-on-year growth was achieved," Revolution Bars said. 

"This is the fifth consecutive year that the group has enjoyed record sales in the festive period."

Given the way the Christmas period fell this year, with New Year's Eve in the group's second half, the company said the 27 weeks to January 6 provided a better benchmark for underlying performance.

Like-for like sales during the 27 weeks to 6 January 2018 were up 1.9%, with a 14-week second quarter rise of 3.1%.

"These results are all the more pleasing as they were delivered against a backdrop of inclement weather mid-month in December and between Christmas and New Year," Revolution Bars said.

The company said it expected its interim results to be in line with expectations, reflecting continued growth in venues, revenue and profits.

"I am delighted with our sales performance in the second quarter and over Christmas," chairman Keith Edelman said

"This is the fifth year that the group has recorded record results over the key trading period and again demonstrates the appeal of our brands. This excellent result underlines that the group is delivering on its strategy of expanding the two brands whilst continuing to drive like for like growth in the core estate."