Revolution Bars report increase in profits after successful IPO
Revolution Bars yesterday posted an increase in revenues and profits in its first results since floating on the London Stock Exchange.
The group reported a 2.9 per cent increase in sales, to £111.8m, and profits before tax of £2.9m at the end of June, up from £2.6m in 2014.
Shareholders would be paid their first dividend of 1.7p.
The exceptional cost of its float in March, £4.1m, ate into profits, but chief executive Mark McQuater said rebranding with premium products, with more food and better cocktails, had paid off and boosted sales.
Chairman Keith Edelman said: “Our performance in 2015 has given us a solid platform to grow the group with five bars in the pipeline.”