(Press Association) Nightclub-owner Deltic Group has cheered surging sales over the festive season thanks to a Christmas party boost and record takings on New Year’s Eve
The firm saw like-for-like sales rise 8.2% in the four weeks ending in December 2017, driven in part by a 20% hike in pre-booked Christmas parties.
Deltic, which owns 57 clubs and bars including the Prysm, Atik and Oceana brands, notched up 76,500 admissions and saw total sales rise 2.6% to £2.4m on New Year’s Eve.
The update comes as Britain’s biggest nightclub operator lines up an expansion drive following a failed merger attempt with Revolution Bars at the tail end of last year.
Chief executive Peter Marks (left) said: “We’ve seen a strong trading period in December, with total sales up 8.2% on the previous year, and a record New Year’s Eve.
“This follows a fantastic student fresher’s season and Halloween.
“The strong performance was further aided by the refurbishment programme that continues to yield great results, and the focus on entertainment and premium service and products.
“It is anticipated that the first full refurbishment programme will be completed over the coming financial year.”
Alongside efforts to overhaul its estate, the company is looking to snap up profitable businesses while doubling the size of its property department to help spearhead growth.
Asked which areas the group is targeting, Mr Marks told the Press Association in December: “We have nothing in Manchester, Liverpool, Glasgow and Newcastle, so obviously they are in the mix.”
Deltic had become embroiled in a tussle for Revolution Bars, tabling an all-paper merger that would have seen Revolution own 65% of a combined entity and Deltic 35%.
However, its overtures were rejected as Revolution eyed a takeover from Slug & Lettuce owner Stonegate, which collapsed in October after Revolution investors snubbed a £101.5m buyout bid.
Since then, Deltic has snapped up 1.5 million shares – or a 3% stake – in Revolution.
While Deltic is unlisted, its renewed interest in Revolution saw shares in the pub operator jump 12.25% to 169.5p on the London Stock Exchange on Monday morning.
Picture courtesy of Deltic Group Website