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Viva la Revolution!
Bar operator, Inventive Leisure (Inventive), has released preliminary results for the year to 30 June showing pre-tax profits up 21 per cent to £3.8m – including exceptionals and disposals, the figure is £3.6m.
Turnover for the period was up 35 per cent to £37.6m and EBITDA rose 29 percent to £6.7m, £6.5m including exceptionals and disposals.
The group’s Revolution brand was responsible for much of Inventive’s growth, with turnover from the vodka bar concept up by 50 per cent to £35.1m – 93 per cent of total turnover – and EBITDA up by 51 per cent to £6.4m. Vodka currently accounts for 39 per cent of Revolution sales.
The year saw six new Revolution bars opened – in Reading, Walsall, Harrogate, Milton Keynes, Chester and Swansea – which increased the estate by 23 per cent. The group’s non-core estate was further rationalised by the disposal of three sites, two in Oldham and one in Bolton.
Since the year end, new sites in Sheffield and Watford have opened and a another non-core outlet has been sold. A further six Revolution openings are scheduled to take place before Christmas, with two more following in the second half of the year.
Chair, John Green, said: “This has been a excellent year for Inventive Leisure and it is very pleasing to be able to report another year of record turnover and profits.”
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