Revolution Bars report increase in profits after successful IPO

 
Madeline Ratcliffe
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There are 57 Revolution bars around the country, including five in London (Source: Getty)
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.”

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