Nightclub operator Luminar claims it is on track to create a business comprising 120 high quality venues over the next two years.
Announcing the group's results for the year to March 1 2007, chairman Steve Thomas said following the disposal of its entertainment and non-core businesses Luminar was "now totally focused on delivering the roll-out of venues that have high returns".
Turnover at Luminar's continuing operations - its 93-unit strong branded nightclub business - rose 4.8 per cent to £204m, while pre-tax profits rose 11.3 per cent to £26.7m.
Total turnover, including discontinued operations, fell 11.2 per cent to £300.4m, while overall pre-tax profits declined nine per cent to £41.5m.
The group said dancing admissions rose five per cent in the year, central cost reductions were "ahead of plan", and progress was being made towards "the board's objective of creating a focused business of 120 high quality venues by 2009".