Revolution Bars buoyed by City drinkers

Bankers and insurers swigging champagne and cocktails at the Leadenhall Street venue of the Revolution Bars chain has helped lift sales at the firm by 2.9% to £111.8 million.

Mark McQuater, chief executive of the bar chain, also praised performance in the group’s four other London sites.

Outside the capital, it plans to open five new bars by June next year.

In its maiden set of results since listing on the London Stock Exchange in March, the company posted a pre-tax profit of £2.9 million for the year to June 30, up from £2.6 million the previous year.

Revolution will pay a dividend of 1.7p per share for the full year.

During the period it benefited from changing and strengthening products, particularly in the cocktails category.

Chairman Keith Edelman said: “Our performance in 2015 has given us a solid platform and our current pipeline of new bars gives us the confidence that we can grow the footprint of the group.”