Luminar supports price curbs as sales slip
Late night operator Luminar has backed calls for compulsory minimum pricing after seeing a sales fall across the past month. Luminar chief executive Steve Thomas (pictured) supports a legal national framework under which operators in towns plagued by deep discounting and subsequent binge drinking can agree minimum prices and venue capacities with local authorities and police.
The proposals, discussed by trade leaders with the government last week, have split the trade. Many operators are opposed to allowing politicians to decide the prices they can charge.
However, Mr Thomas is critical of rogue outlets charging prices as low as 60p to 80p a drink in some towns. The core problem of too many operators chasing too few customers has got worse in recent weeks.
In a statement to shareholders for Luminar's annual meeting, chairman Keith Hamill, said: "During June general conditions in the late night market became more volatile with a sharp drop off in sales at the beginning of the month."
Although the trend had improved towards the end of the month, total like-for-like sales to the end of June are down by 4 per cent.
Luminar said that in the three months to the end of May, "some softness in sales performance" had been offset by improvements to margins.
The company expects an improvement in July and August, compared with weak sales in last year's very hot summer, and "a steady recovery in trading in the second half of the financial year", running to next February.
