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Revolution sees strong trading from pent up demand

Published:  07 October, 2021

Pent up demand has seen Revolution Bars, the 67-strong bar group, report strong trading well ahead of expectations.

The group, which runs the Revolution and Revolucion de Cuba brands, revealed that for the period from 19 July 2021 to 2 October 2021 its sites experienced strong demand delivering same site sales growth of 17% when compared to the same period two years ago, when the business traded normally pre-Covid.

Covid restrictions were fully relaxed in England from 19 July 2021, which was two weeks into Revolution's financial year, ending 2 July 2022.

It revealed that its 56 English sites, which had no restrictions over this period, traded at 21% higher when compared to two years before.

The company said that the strong trading performance was well ahead of the expectations for this period. It also said that it had controlled costs, resulting in good profit generation from these sales.

While Revolution said it was confident in the outlook for the business in the current trading environment it admitted there were potential challenges.

The Board remains cautious of the potential impact of an escalation of Covid-19 and any associated restrictions on the business in the upcoming key trading months, including corporate Christmas parties.

Rob Pitcher, CEO of Revolution Bars Group said: “We spent the lockdown periods working extremely hard to refine and enhance our brand propositions with a key focus on heightening guest experience.

“As a result, it is extremely encouraging to see we have capitalised on the pent up demand we predicted, which has been reflected in excellent trading so far this year. We are therefore confident in the Group’s outlook assuming that there are no further restrictions on our ability to trade.

“I’d like to take this opportunity to personally thank all of our colleagues for their hard work during what has been a hugely challenging period.”

The group’s balance sheet has cash of £3.7m and a £36.5m facility headroom as at 6 October 2021. It intends to publish its preliminary results for the year ended 3 July 2021 on 16 November 2021.