Profits fall as Revolution Bars takeover battle continues
Manchester-based Revolution Bars Group – the operator of Revolution and Revolución de Cuba brands – has said that despite accepting a £101.5m offer to be acquired by Stonegate, a rival merger offer could still be on the cards.
The announcement comes as Revolution publishes its full year results, showing a near 30%fall in pre-tax profits to £3.6m (2016: £5.1m), despite an increase in revenue to £130.5m from £119.5m for the year to July 1.
Listed Revolution, which is headquartered in Ashton-under-Lyne, has endured a toug... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...