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Annual Results

Revolution Bars profit falls amid takeover battle

03 October 2017 07:13

Revolution Bars posted in a fall in full-year profit after sales growth slowed and costs spiked.

The takeover target said profit before tax fell 29% to £3.6m, from a restated figure in the previous year of £5.1m.

Like-for-like sales grew by 1.5%.

Revolution Bars said sales growth in the first quarter of the current financial year slowed to 0.3%.

September was particularly disappointing, it said, largely due to wet and cool weather compared to record temperatures a year earlier.

Deltic Group is still considering whether to make a cash offer for Revolution Bars to rival Stonegate's offer of 203p per share. It must make its intentions clear by October 10.

"Deltic is continuing to perform due diligence on the group, and the board is committed to ensuring that the interests of shareholders are best served," Revolution Bars said.

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