Sales up at Luminar
Luminar, which operates the Liquid, Oceana, and Lava & Ignite chains, has reported a 1.8% increase in like-for-like sales across its dancing division for the first eight weeks of the second half of its financial year.
The company, which in December disposed of the Chicago Rock Cafe and Jumpin' Jaks bars that made up its entertainments division for £95.8m, said that like-for-like sales were up 11.8% across its branded dancing operations for the same period.
The news came as the company announced half-year results to 30 August 2007.
Like-for-like sales for its dancing division were up 4.1%, while like-for-like sales in its branded dancing division were up 13.4% on the previous year.
The group said that while it was still early to draw definite conclusions from the smoking ban, it said that it had only experienced a marginal impact on sales within its dancing division.
However, it had seen weaknesses in its unbrandable units since the ban's implementation. It said it had yet to find a suitable smoking solution for 11 of its venues.
The company reported a loss of £1.9m in relation to its 49% stake in 3D Entertainment, which it said was due to accelerated development and investment activity across its estate.
Stephen Thomas, chief executive, said: "We are delighted we are progressing strongly to achieving our strategy of 120 nightclubs, 80 of which will be branded. We will therefore continue to invest in our business, deliver excellent performance and grow shareholder returns.
"We are well prepared for the important forthcoming trading periods. We are confident of delivering further progress during the current year."
