Luminar lifts profits 123 per cent
Luminar, the late-night club and bar operator, has seen its profits soar 123 per cent in the past six months.
The group, which owns the Chicago Rock Café chain, Jumpin Jaks nightclubs, and the Hippodrome in London's Leicester Square, saw profits jump to £29.5m on sales up 116 per cent to £166.4m.
Chief executive Steve Thomas said the group had noticed the impact of terrorism on trading for a few days after the September 11 attacks, but overall he felt people were getting out more as a result. "The atmosphere in the clubs is definately different," he said. "I'm not quite sure why that is but people seem to want to get out and have a good time."
The group currently owns 275 venues in 162 towns across the UK and has opened 31 venues in its first half to August 26. It had about 45m customers through its doors last year.
Luminar plans to spend £60m opening a total of 41 outlets this year. A further 44 openings are planned the following year.
The company reported a rise in like-for-like sales of five per cent for the entertainment division. Chairman Keith Hamill said he was confident about the growth prospects of the group and said it was looking forward to the important Christmas and New Year period. Early bookings for the festive season were encouraging.
Related stories:
Luminar eyes First Leisure (16 October 2001)
Luminar buys up the rights to Life (20 July 2001)
Luminar takes on Wetherspoon and Bass (17 May 2001)
Luminar spends £60m after profits soar (09 May 2001)
