Financial results for Revolution Bars Group Plc (LON:RBG) are somewhat incidental for investors who await progress with a proposed sale of the company.
The highstreet vodka and rum bar operator reported revenue of £130.5mln, up from £119.5mln last year, and said like-for-like sales were up 1.5% for the 52 weeks ended July 1.
READ: Revolution Bars snubs Deltic's attempt to gatecrash potential merger with Stonegate
Earnings (adjusted EBITDA) was reported at £15.1mln, up from a restated 2016 figure of £13mln, with the company highlighting a ‘strong underlying performance’ supported by the maturing of new bars opened in 2016.
The company told investors that normal trading patterns returned at its Manchester operations in July and August following the impact of the terrorist attacks in May, meanwhile, it described September trading as disappointing due to very wet and cool weather compared to last year.
READ: Revolution Bars blames new sites as it lowers full-year guidance
It separately updated on the recommended sale to Stonegate Pub Group, with a new circular sent to shareholders on September 20, though it noted that potential rival bidder Deltic Group has said that it continues to evaluate a possible offer for the group.
In September, the Takeover Panel gave Deltic until October 10 to make an offer or announce that it won’t.