Night Tube revolutionises bar chainComments Off on Night Tube revolutionises bar chain
London’s drinkers staying out longer thanks to the Night Tube has encouraged Revolution Bars to expand in the capital, the boss of the chain said today, as he raised a glass to strong trading.
Mark McQuater said that — despite high rents and looming tax hikes after the release of new business rates last week — better weekend transport links have “encouraged” him to invest in the capital.
He is eyeing potential openings in Muswell Hill, Fulham and Putney.
“London has a high-spending younger community and the Night Tube has already benefited us. I am confident that over the next year we will be doing more in the capital.”
The expansion plans came as the business revealed sales increased by 6.9% to £119.5 million in the year to June 30.
The firm, which has 62 venues and is behind the growing Revolución de Cuba brand, also saw pre-tax profit more than double to £7.1 million.
Sales in bars open more than a year increased 1.8% in the first 12 weeks of this financial year.
The shares edged up by 2.75p to 154.75p.