Shares in Revolution Bars soared on Thursday as investors cheered a rise in sales driven by a return of patrons as Covid curbs eased.
The bar chain said sales between July 19 and October 2 were 17% higher than pre-pandemic levels in 2019, before the crisis shut down pubs and restaurants.
The hospitality sector was able to fully reopen in July, and Revolution Bars resumed a refurbishment programme across parts of its estate. It added that costs have continued to be well controlled.
“It is extremely encouraging to see we have capitalised on the pent-up demand we predicted, which has been reflected in excellent trading so far this year,” said chief executive Rob Pitcher.
“Whilst confident in the outlook for the business in the current trading environment, the board remains cautious of the potential impact of an escalation of Covid-19 and any associated restrictions on the business in the upcoming key trading months, including corporate Christmas parties.”
