REG - Revel Collective PLC - Pre-Close Statement

Revel CollectiveAnnouncement

Tue 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250729:nRSc8741Sa&default-theme=true

RNS Number : 8741S  Revel Collective PLC (The)  29 July 2025

The Revel Collective Plc

(the "Company" or the "Group")

Pre-Close Statement

The Revel Collective plc, a leading operator of premium bars and gastro pubs,
trading mainly under the Revolution, Revolución de Cuba and Peach Pubs
brands, is pleased to update on the year ended 28 June 2025 ("FY25") which is
anticipated to be in line with market expectations.

Revenue for the year was £117.1m (FY24: £149.5m).  On a like-for-like(1)
basis, Group revenue was £113.2m which was 7.9% down on the prior year (FY24:
£122.9m).  Peach Pubs have continued their positive contribution and
reported like-for-like revenue growth of +2.0% versus FY24.  As previously
announced, the first half of the financial year saw a slower than expected
recovery in sales owing to ongoing fragile consumer sentiment and market
challenges. Whilst the second half of the financial year started slowly, it
subsequently benefitted from the implementation of various internal
initiatives, including the new brand proposition for Revolution which is
resonating well with guests.

The Group provided a trading update in January 2025 and forecast its IAS 17
adjusted(2) EBITDA outcome to be in the range of £2.0 to 4.0m.  The Board
remain confident with the lower end of this EBITDA forecast.

Net debt has been closely managed throughout the year and closed at £22.1m
(FY24: £24.4m).  It remains a critical focus for the Board to keep
discretionary spend and capital investment under tight control and this may
limit site conversion opportunities in the short term.

Rob Pitcher, CEO of The Revel Collective plc, said:

"Guests in our bars continue to face cost challenges and the late-night sector
remains challenging for many participants. Although the macro environment
remains tough, I am pleased that the initiatives and steps taken during the
early part of FY25 are starting to generate small improvements for the
Group.  Whilst it is still early days, we are also encouraged to see some
evidence of additional spending from the key demographics positively impacted
in the National Minimum Wage changes that became effective in April 2025. Cash
and debt management remain a critical focus for the Group, but we are looking
forward into FY26 with a degree of optimism."

29 July 2025

(1) Like-for-like ("LFL") sales are same site sales defined as sales at only
those venues that traded in the same week in both the current and prior year

(2) EBITDA excluding exceptional items, share-based payment charges and pub
opening costs

 

For further information, please contact:

 

 The Revel Collective plc                                          Tel: 0161 330 3876

 Rob Pitcher, CEO

 Matthew Fowler, CFO
 Cavendish Capital Markets Limited (Nominated Adviser and Broker)  Tel: 020 7220 0500

 Matt Goode / Teddy Whiley / Hamish Waller (Corporate Finance)

 Tim Redfern / Harriet Ward (Corporate Broking)
 Instinctif (Financial PR)                                         Tel: 020 7457 2010/2020

 Justine Warren / Gus Chipungu /Tim Pearson

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTRPMFTMTTTBBA