StockMarketWire.com - Cocktail bar group Nightcap booked a full-year loss as expenses weighed, though it added that many of its sites were performing at record levels following an easing of lockdowns.

Pre-tax loess for the year through 27 June amounted to £5.3 million, compared to year-on-year losses of £0.6 million.

Revenue increased to £6.0 million, up from £5.2 million year-on-year.

Nightcap said it was pleased with the performance of its business since reopening, with most of its sites having posted 'record sales weeks'.

Some of the company's sites with outdoor space were able to open on 12 April, when outdoor trading was permitted.

The full relaunch began when indoor trading recommenced on 17 May, albeit with some significant capacity and other restrictions remaining in place.

'The success of the UK vaccination programme means that our consumers are now more confident about going out for a drink and enjoying themselves,' Nightcap said.

'Since the start of September 2021, we are also benefitting from the significant increase in the number of people returning to their offices, given that many of our bars are located in city centres.'

'In particular our sites in and near to the City of London are trading better than ever.'


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