Continued expansion of Revolution, the vodka-led bar chain owned by operator Inventive Leisure, has led to increased profits and turnover for the group, despite the current challenging trading conditions.
In the six months to 28 December 2002, turnover increased by 40% to £17.4m, compared with £12.4m for the same period a year earlier. Pre-tax profit was up by 20% to £1.4m, compared with £1.2m in 2001.
In the 10 weeks since the end of December 2002, total company sales have increased by 49% compared with the same period a year earlier. The group also owns seven bars and two nightclubs.
So far, Inventive has opened five new Revolutions - in Chester, Harrogate, Milton Keynes, Reading and Walsall - bringing the total number of bars in the group to 31.
The company said it believes that there is room in the market to open about 80 more Revolutions, and has already exchanged contracts on seven sites to open this year.
Turnover within Revolution increased by 60% to £15.9m, compared with £9.9m in 2001. Operating profit was up by 50% to £4.2m, against £2.8m a year earlier. Like-for-like sales increased by 3.9%.
Roy Ellis, chief executive of Inventive, said that he was delighted with the growth, particularly in difficult trading conditions.
He said that the group had been working hard to increase sales with a series of key initiatives.
"I think we are very resilient," he said. "Last year, we worked hard to improve standards and to focus on the product. This year, we are working hard at growing sales."