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Revolution Bars (RBG)

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Friday 22 April, 2016

Revolution Bars

New site pipeline update

RNS Number : 9949V
Revolution Bars Group
22 April 2016
 

Revolution Bars Group plc (LSE: RBG)

 

New site pipeline update

 

Revolution Bars Group plc ("the Group"), a leading UK operator of 60 premium bars nationwide, trading under the Revolution and Revolución de Cuba brands, is today pleased to provide an update on its new site opening programme. The Group currently comprises 52 Revolution bars and eight Revolución de Cuba bars.

 

Following receipt of full licensing and planning permissions, the Group is preparing to open its first three new bars in 2016. The first two of the new openings are already on site in Albert Dock in Liverpool, a designated World Heritage site, with the second opening planned in Stafford.  A third site has been secured in central Reading. 

 

The Liverpool and Reading sites will both be Revolución de Cuba bars, further expanding the geographic footprint of the Group's second trading brand, and the Stafford location will be a Revolution. The two new Revolución de Cuba sites, which will be food-oriented, are large format versions with customer square footage of over 6,000 sq. ft. in each site.  In addition, all three of these new bars will have outdoor trading areas. 

 

These openings follow the successful opening of three new Revolución de Cuba bars in Leeds, Nottingham and Milton Keynes over the last six months, all of which continue to trade well.  The Liverpool and Stafford bars are due to open prior to the Group's year end, bringing the total number of new bars opened to five in the year ended 30 June 2016. Reading will open in Autumn 2016.

 

Commenting on the update, Mark McQuater, Chief Executive, said:

 

"I am delighted to report our expansion plans are progressing. We are encouraged with the performance of the three new Revolución de Cuba bars opened in the first half in Milton Keynes, Leeds and Nottingham.  With two more bars scheduled to open prior to the year end and the first of our 2017 financial year new sites secured in Reading for later in 2016, our new site pipeline is strong and we remain confident of meeting our strategic growth targets."

 

22 April 2016

 

For further information:

 

Revolution Bars Group plc

Mark McQuater, CEO

Sean Curran, CFO

 

0161 330 3876

0161 330 3876

 

Instinctif Partners

Justine Warren  / Matthew Smallwood

020 7457 2020  

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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