Deltic group has record breaking Halloween
Late-night bar and club operator the Deltic Group has reported a 9.1% increase in like-for-like sales to £16.4m following a record breaking Halloween.
Between 17 September 2017 to 31 October 2017, Deltic saw admissions to its 57 clubs and bars throughout the UK increase by 6.4% to 1.3m people thanks to a successful freshers and Halloween period.
During the period, early week sales were up 12.4% and Friday and Saturday sales rose 7.5% caused by the students (freshers) starting university across the UK.
Peter Marks, chief executive of the Deltic Group said that the group is continuing its refurbishment programme.
Marks said: "This strong trading period, including a record Halloween weekend and very strong Halloween Tuesday, follows a period of significant investment for the group, including an extensive refurbishment programme and the introduction of further music-led entertainment.
"I believe that our recent performance reflects the Group's quality brands, well invested estate, and dedication to customer service, coupled with the substantial appetite amongst consumers for great nights out. We are seeing sales growth across all our regions, and we look forward to building on this going forward."
The group recently proposed a merger with Revolution Bars Group. It withdrew its offer of a merger on 11 October after Revolution directors advised shareholders that they vote in favour of a rival offer from Stonegate in the absence of a firm cash offer from Deltic.
However, a week later Stonegate walked away after Revolution's shareholders rejected a £101.5m takeover offer. Deltic Group said it noted "with interest" the result of the vote.
Deltic is restricted from making another offer for Revolution for six months under stock market rules, unless Revolution's board of directors agrees to waive the restrictions, or a third party announces a firm intention to make an offer.
At the end of August Deltic reported a 1.4% growth in turnover to £102.2m in its audited annual results for the year ended 25 February 2017. Underlying EBITDA was in line with last year's results at £13.3m, although underlying operating profit was down from £8.6m to £5.6m.
Stonegate walks away after Revolution Bars Group shareholders reject £101.5m offer >>
Deltic reveals Revolution merger proposal terms >>
Deltic reports 1.4% growth in turnover to £102m >>
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