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Luminar expects full year profits to be within forecast

From The Publican

By Hamish Champ , 18-Jan-2008

Late night operator Luminar has reported trading during Christmas the New Year was "satisfactory" and said it expects pre-tax profits for the year to February 28 2008 to be within forecasts.

In an interim management statement Luminar said the trading environment "toughened from mid November and continued throughout the first half of December, with the group's units seeing a continuation of the previously reported trends with reduced customer admissions, but stronger spend per head generated from an older customer base with higher disposable incomes".

The group went on: "Continuing like-for-like sales within the dancing division (which comprises 86 units) for the financial year to January 10 2008 were up 1.1 per cent, with branded dancing (53 units) continuing like-for-like sales up 5.7 per cent."

Luminar said a similar trend has continued into the current week ended 17 January 2008.

Trading patterns experienced within the group's associate, 3D Entertainment Group, "have been broadly in line with that of the business as a whole", it added.

Meanwhile, those units with a smoking solution - more than 70 per cent of its estate -outperformed those without such facilities.

Management was "continuing to focus attention on the few remaining units without the required outside areas", the statement added.

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