Revolution Bars Group said it is trading “really well” in Scotland, where it plans to grow its network after posting double-digit growth in sales in its interim results.
The firm said revenue showed a year-on-year jump of 12.7 per cent to reach £66.7 million in the six months to 31 December, while core earnings grew by 13.6 per cent to £9.2m. Pre-tax profit on ordinary activities was broadly flat at £4.6m.
Chief executive Mark McQuater told The Scotsman that the group has “some proper momentum going now”, with growth funded by organic cashflow.
Its network increased to 66 sites, with 53 Revolution and 13 Revolución de Cuba bars. Two under the latter branding opened in Aberdeen and Glasgow during the period.
McQuater said the group is very pleased with progress in both sites, stating: “We’re quite a dominant player at the quality end of the Aberdeen bar/restaurant scene.”
He also said that a third branch in Glasgow is under negotiation, and sites in Edinburgh and Inverness are being sought.
“We regard the more affluent and large-demographic parts of Scotland as something we want to participate in. We’re trading really well in Scotland. On the whole, I think we’re in a good place.”
Like-for-like sales growth for the eight weeks to 25 February rose by 1.7 per cent.