Revolution Bars Group has revealed its pre-tax losses have narrowed to £26.3m from £31.7m for the full-year ending 3 July 2021.
Total Sales were 64.2% lower at £39.4m than £110.1m in 2020 as a result of the various Covid-19 lockdowns and restrictions throughout the entirety of FY21, compared to just the last 14 weeks of FY20.
Overall like-for-like revenue generated in FY22 since 19 July, when restrictions fully relaxed in England, was up 14% when compared with FY20.
In addition, total revenue in the year to date was also 137% of the full-year revenue generated in FY21 and was attributed to both the pent-up demand in the younger customer base.
Rob Pitcher, CEO, said: “Our strategy, and the investment in our brands and people, is showing real results. We are pleased with the launch of our two new brand concepts, and love to see our two established brands continue to thrive and grow.
“Whilst the disruption caused by Covid has set back our timescales for expansion, we believe that post Covid, our marketplace and the competitive landscape will be fundamentally different and there will be good opportunities for our brands to expand their estates at a much lower level of investment.”