Revolution Bars shares fall as it swings to £3.6m loss

Shares in Revolution Bars were down four per cent today as it announced an annual pre-tax loss of £3.6m, compared to a profit of £5.1m a year earlier, amid “factors outside the company’s control”.

For the year up to 30 June 2018, like-for-like sales fell 0.6 per cent after a first half growth of 1.9 per cent, although total sales went up to £141.9m, an 8.7 per cent growth.

Talking about these external factors like “management change, extremes of weather and the FIFA World Cup”, Rob Pitcher, chief executive officer, said: “This is a fundamentally good business which has seen significant disruption over the past year and factors outside of its control.”

The company runs 76 ‘premium bars’, trading under the Revolution and Revolución de Cuba brands,