Luminar confident on stronger trading

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Related tags: Late night operator, Night operator luminar, Sound

Late night operator Luminar says business has been brisker across July and August, helping to keep its performance in line with expectations.The...

Late night operator Luminar says business has been brisker across July and August, helping to keep its performance in line with expectations.

The group's like for like sales were down by 3.7 per cent in the 26 weeks to August 29, but this has been offset by higher margins and the contribution from nine new units opened in the last 18 months.

Luminar said "trading through July and August has improved from the difficult conditions experienced in June and accordingly results for the first half are broadly in line with expectations."

The group, whose brands include Chicago Rock Café, Oceania and Liquid, said earlier this year it is investing £100m on revamps and rebranding in the face of increasing competition in the late night market.

So far this year, three outlets have been rebranded and five refurbished, with these units performing in line with company targets. Three units have been sold, on top of 18 disposals in the last financial year, helping reduce costs. Luminar sounded a confident note on prospects, saying it "has strong operational management, is the market leader in its sector, has a clear strategy on the development of superior branded products."

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