Revolution Bars rebounds after 64% revenue fall

Shares of Greater Manchester-based Revolution Bars Group plc fell about 8% on Tuesday after it published results for the 53 weeks ended July 3, 2021, showing revenue in the Covid-19 hit year fell 64.2% to £39.4 million from £110.1 million and its pretax loss narrowed to £26.3 million from £31.7 million.

However, the comany said that after the first 14 weeks of FY22 it has already exceeded the total revenue generated in FY21 — with total revenue currently 137% of FY21.

“The group has again faced an extraordinary year where every week of trade was impacted heavily by restrictions or enforced closure,” said Revolution Bars.

“However, the group used this period to further invest and improve its brands and operations, and the Group is now picking up where it left off prior to COVID-19.

“Continuing from the positive like-for-like (LFL”) growth before the pandemic, the group is extremely excited to have fully reopened and see our guests and teams create the fun and memorable experiences for which our brands are renowned.

“After the first 14 weeks of FY22 we had already exceeded the total revenue generated in FY21.

“At the time of writing total revenue is currently 137% of FY21, with FY22 LFL revenue since 19 July, when restrictions fully relaxed in England, 14% ahead of the comparable period in FY20.”

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