The Revel Collective PLC - Manchester, England-based operator of pubs and bars - Pretax profit balloons to £30.1 million in the 26 weeks to December 28 from £3.1 million a year prior, despite revenue falling to £64.2 million from £82.3 million. Bottom line benefits from exceptional items credit of £28.4 million compared with £3.9 million. No dividend declared. Says trading in the bars continued to be challenging due to the reduced consumer confidence currently impacting the UK nighttime economy. Further, the restructuring plan in Revolution Bars Ltd which was completed two months later than originally planned, led to prolonged uncertainty. On the plus side, notes record levels of pre-booked corporate bookings in bar brands in the festive trading period. Remains confident of achieving alternative performance measure adjusted earnings before interest, tax, depreciation and amortisation of £2.0 to £4.0 million as previously announced in January.
Current stock price: 0.16 pence, down 0.4% in London on Tuesday
12-month change: down 94%
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