Pre-Close Statement
March 22 2006 - 2:01AM
UK Regulatory
RNS Number:1686A
Luminar PLC
22 March 2006
LUMINAR PLC
("the Company")
Pre-Close Statement
Prior to the Company's close period and in accordance with usual practice, the
Board of Luminar wishes to update shareholders on trading for the year as a
whole.
Trading conditions have remained difficult across the industry since the
Christmas period. Whilst group sales on a continuing basis for the year ended 2
March 2006 were up 2.5% at #294m over the previous year, like-for-like sales
from the core businesses decreased by 0.6%.
The Dancing Division continued its strong performance, where like for like sales
have increased 2.9%. Continued investment in the Group's branded units
delivered increased like for like sales up 9.3%, demonstrating further progress
in implementing the Group's strategy.
Sales in the Entertainment Division on a like for like basis have declined year
on year by 6.2%. Gross margins have remained stable in all segments of the
business. In common with the sector generally, net margins have been diluted by
increases in rent, rates and utility costs.
Cashflow generation from operations and non-core asset disposals has continued
to be strong. Disposal proceeds for the year (including the disposal of Candu
and sale & leaseback transactions) were #56.4m, representing 64 units disposed
of. The Company will continue to focus on disposing of non core assets.
The Board are encouraged by the performance in the Dancing Division. The
Company will publish its full year results on 18th May 2006.
22 March 2006
Enquiries
Luminar plc Tel: 01908 544100
Keith Hamill, Chairman
Stephen Thomas, Chief Executive
Nick Beighton, Finance Director
College Hill Tel: 020 7457 2020
Matthew Smallwood
Alex Sandberg
This information is provided by RNS
The company news service from the London Stock Exchange
END
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