Slow progress for Luminar

01 December 2004
Slow progress for Luminar

Late-night bar and nightclub operator Luminar has reported first-half profits in line with analysts' expectations as its "slow and patchy" recovery continues.

Luminar: rebranding programme
Luminar, whose brands include Chicago Rock Caf‚ and Jumpin Jaks, reported pre-tax profits of £25m before goodwill on a turnover of £188m to 29 August. For the same period last year the company achieved £27m on a turnover of £199.9m. The company said improved margins and its refurbishment and rebranding programme had helped to mitigate the fall in like-for-like sales, which were down 1% in October, compared with a 2% fall in the previous nine weeks. In a statement the company predicted its progress would be "slow and patchy", although it remained "cautiously optimistic", with much hinging on the Christmas period. The company has also signed a joint venture with Accor Casinos SA to open a large casino in Leeds. Paul Hickman, an analyst at broker KBC Peel Hunt, said: "They're not quite as far ahead with their rebranding and refurbishment exercise as we would have hoped."
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking