Share Name Share Symbol Market Type Share ISIN Share Description
Revolution Bars LSE:RBG London Ordinary Share GB00BVDPPV41 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 190.00p 190.00p 192.00p 191.00p 188.50p 188.50p 730,647 16:29:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 119.5 7.1 12.1 15.7 95.00

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Date Time Title Posts
17/8/201708:53REVOLUTION BARS GRP870
10/5/201715:08Revolution Bars Group35

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Revolution Daily Update: Revolution Bars is listed in the Travel & Leisure sector of the London Stock Exchange with ticker RBG. The last closing price for Revolution was 190p.
Revolution Bars has a 4 week average price of 110p and a 12 week average price of 99p.
The 1 year high share price is 246p while the 1 year low share price is currently 99p.
There are currently 50,000,000 shares in issue and the average daily traded volume is 337,799 shares. The market capitalisation of Revolution Bars is £95,000,000.
spot1034: Stonegate aren't new to this and presumably know what they're doing. I'd say they want the locations more than anything else. They could see exactly what the company consisted of in that respect before they even made a preliminary approach. The share price has suffered because profitability is lower than expected and threatened by 'headwinds'. They knew that too, but they still made the approach because they want the locations regardless of how they are performing. If the present operation doesn't make enough money, they think they know how to make changes so that it does. Unless they find something nasty in the books which goes beyond a straightforward underperformance of the day to day business, I can't see why they would walk away.
yupawiese2010: How ridiculous, you get nasty with Stonegate they can easily walk away, then wait for the share price to collapse
crumppot: I have doubled my stake. I think the offer is likely to be successful but if not there will be a counter bid. This is a reasonably run company with potential and the recent share price has not been reflective of its underlying value. Those who hang in there will be rewarded!
evil_doctor_facilier: Agreed somewhat twistednik, hence my comment the market sets the price, if new news came out the price is appropriate adjusted up or down to reflect the new risk reward! With regard Wasps annoyance the share price was not circa 190p. I was politely explaining that no one is going to pay 190p for 10p gain 3 months down the line with risk of losing 70p in an instant. What's more, to expect them to do so is totally unrealistic! The price will not even be 200p if an offer for that amount is forthcoming due to the risk of it not going through.There is always a discount to risk To get the full 200p you will have to wait for the party taking Revs over to payout!
evil_doctor_facilier: I do have an idea though and i clearly posted it? (down 50p) You are conflating your own clear annoyance and frustration at the share price action with my kindly explaining the rational behind it, with me having a bad day i believe! I think it's clear who's stressed here!
evil_doctor_facilier: Wouldn't it be a fantastic utopia of risk reward, if after a failed offer the market just shrugged it shoulders and said fine you can keep that 40% gain on that nothingburger approach! Wasp where on earth do you see the share price if the RNS "no offer" materialises?
don777: From Artemis UK small co fund 201706 update: " That lone profit warning came from Revolution Bars and cost the fund 0.4%. Some of its recently opened bars have taken longer than expected to reach normal levels of profitability. Costs - including the higher National Living Wage, the Apprenticeship Levy and business rates - are rising. These factors, combined with slightly softer trading, led to a 20% reduction in earnings per share. In response, the share price halved. Most of these issues have been known about for a long time, so it is frustrating that the principal issue appears to lie in poor budgeting rather than a meaningful change in market conditions. The group's two largest shareholders both cut their holdings substantially, exacerbating the fall in the share price. We added to our holding: the shares looked good value before the warning and the market's reaction seems extreme relative to the earnings downgrade. The balance sheet remains strong (net debt is very modest) and it remains a cash-generative, high-return business with significant potential to expand."
jaknife: The guidance in the trading update was: "the Company believes that the adjusted EBITDA (pre-opening costs) out-turn for the year is expected to be broadly at the same level as last year." see: Which would be an Adjusted EBITDA of circa £15.6m. But that's on increased sales so they're basically saying that EBITDA margins have dropped marginally. The Adjusted EBITDA figure seems reasonable and is marginally above the net operating cash flow, so cash conversion looks good. The balance sheet is also good. Hence to see this trading at 4*EBITDA strikes me as nuts, the sector average is significantly higher, eg: Mitchells & Butlers - 8.78 * Greene King - 9.19 * J D Wetherspoon - 9.72 * They're bigger and more widely dispersed with multiple brands to support their respective businesses so it makes sense that we should apply a discount, say 25%? So 0.75 * 9 * £15m is approx £100m market cap. That's about a £2 share price, which is where the price was before (honestly, I plucked the 25% out of the air because it's the BVCA standard discount for illiquid stocks). That trading statement doesn't suggest £40m of value destruction to me. It looks cheap.
paulypilot: Oakley is completely missing the point. RBG is a roll-out. They are being offered absolutely amazing deals on new sites, many of which are former HMV sites which have been closed for years. RBG applies for planning permission change to use as bars, which is difficult & takes a long time. Once granted, they sign a new lease on amazingly competitive rents. So the new sites hit the ground running, on a 38% ROI. So payback period less than 3 years. Clearly there would be little maintenance capex in the first 3 years, as everything is new. So new sites pay for themselves quickly. Overall maintenance capex is c.£5m, mainly on the older sites. So the company should make about £17m EBITDA this year, which is enough to fund the maintenance capex, pay a bit of tax (not much), there's little to no debt interest (as it has no net debt), then the remaining cashflow is enough to pay a 2.6% divi, and fund 6 new £1m sites per annum - which raise EBITDA by about £2m per annum. It's a fantastic business model. Investors just have to sit back & do nothing, and in 5 years time we should be significantly richer from this share. Over-analysing historic numbers is completely missing the point! But that, and an aversion many investors have to investing in bars, is what creates the buying opportunity here. I've no idea when the share price will re-rate, but I am certain it will, eventually, once more investors grasp the investing rationale here. Regards, Paul.
fizzypop: Paul Scott‏ @paulypilot 30m30 minutes ago Revolution Bars (RBG) interims look fine to me. In line FY outlook. It's a cheap retail roll-out, with no net debt. Lovely cashflow. I hold 0 replies . 2 retweets 8 likes Paul Scott‏ @paulypilot 13m13 minutes ago RBG - share price dropped c.10-15% on worries when FD departed recently. Nothing in accounts today to justify that worry. 0 replies . 0 retweets 3 likes Paul Scott‏ @paulypilot 5m5 minutes ago RBG- FinnCap just raised its PBT/EPS forecasts by 3% for both 6/2017 and 6/2018 years. Cites softer pr yr H2 comps, strong H1, new openings 0 replies . 0 retweets 0 likes
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P:41 V: D:20170818 16:25:26