Revolution Bars Group has reported like-for-like sales were up 1.2% for the 26 weeks to 28 December 2019 – the seventh consecutive year of record growth over the festive period. This represented a further improvement on the 0.7% increase reported after 13 weeks. Total revenue for the first half increased 3.4% to £81.2m, compared with £78.5m the previous year. Like-for-like sales in the four-week trading period leading up to and including New Year’s Eve rose 4.0%.
During this four-week period, weekly sales per venue averaged more than £65,000.
Chief executive Rob Pitcher said, “I am delighted with our Christmas trading and the steady improvement in our like-for-like sales performance over the first half is further evidence that our key initiatives are driving both operational and financial improvement. Considerable strides have been made in rebuilding customer loyalty and driving sales and profit from the existing estate, creating a stronger business with significant cash generation. Whilst external cost pressures persist, we will continue to manage cautiously, using excess cash to reduce indebtedness below one times Ebitda before we will consider further expansion opportunities.”