Revolution Bars raises a glass to better than expected post-lockdown sales
Revolution Bars has said its sites in England have traded 21 per cent higher than pre-pandemic levels since being able to operate free of Covid restrictions.
The Revolucion de Cuba owner published a trading update looking at the period from July 19 – known as Freedom Day when all existing Covid rules for businesses were scrapped – to October 2.
Across the UK, the group’s 67 premium bars delivered same site sales growth of 17 per cent, compared to 2019.
The group said its balance sheet remained strong, with net cash of £3.7m and £36.5m facility headroom as of October 6 2021.
It said its post-lockdown performance was well ahead of its expectations and that costs had continued to be well controlled.
However, the bar operator added it was still wary of the potential impact of increasing Covid infections and the possibility of restrictions returning in the lead to Christmas.
“We spent the lockdown periods working extremely hard to refine and enhance our brand propositions with a key focus on heightening guest experience,” Rob Pitcher, CEO of Revolution Bars Group said:
“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.”
Thursday’s trading update will be followed by the group’s preliminary results for the year on November 16.
Bar operators have welcomed the return of office workers to city centres in recent weeks, with other pub companies reporting a boost to Canada footfall last month.