For the seventh consecutive year, record sales were recorded over the Christmas period, with the important four week trading period seeing a 4.0% rise on 2018 with weekly sales per venue averaging over £65,000.
Total revenue for the 26 week period was £81.2m (up from £78.5m in the first half of the 2019), with sales growth mainly driven by the annualisation (pro-rata reporting) of five new venues opened in early 2019.
Three under-performing Revolutionbars were closed - Macclesfield, Liverpool Wood Street, and Swansea - whilst an agreement with landlords was made to surrender leases of five other loss-making sites in March 2020, and reduce rent on a further four.
Full year results are expected on 26th February 2020 with earnings expected to have improved in line with market expectations.
The good news mirrors that of fellow Manchester chain The Alchemist (19% increase in sales), whilst positive results were also posted by Dishoom(26% increase), Loungers (26% increase), JD Wetherspoon (6.5% growth), and Mitchells & Butlers (5.6% growth on Christmas sales and 2.8% growth for year upto July 2019).