RNS Number:3298G
Luminar PLC
18 July 2006

Luminar plc
("the Company")


AGM Statement



At the Annual General Meeting of Luminar Plc today, Keith Hamill, Chairman, will
make the following comments:



"The Company has continued to make good progress in its transformation towards
developing a focused late night destination business, opening three Liquids in
the last nine weeks.  Initial trading from these units is encouraging and in
line with our return on investment criteria.



The market segment in which the Company operates remains impacted by several
major regulatory influences.  The Company has developed operational plans to
protect its trading position and will continue to monitor the success of these
initiatives closely.



For the first 19 weeks of the year to 13 July, the total sales from continuing
operations have increased by 1.6% on the prior year.  The like for like sales
from our core businesses have, however, remained at the same level as indicated
in our Preliminary Statement, down 8%. This weak sales performance is primarily
due to the unusual market conditions arising in the last 9 weeks. While
management anticipated a weakening in the trading position, the extent to which
these factors have impacted the business has been disappointing. Management are
still confident that this will not be indicative of the full year outlook.



We are pleased that the improvement in gross margins has continued over the
period.



The Company is committed to the strategy of developing high quality, branded
destination venues and are confident that this will deliver shareholder value."




                                                                    18 July 2006

Enquiries

Luminar plc
Stephen Thomas, Chief Executive             01908 544110
Nick Beighton, Finance Director             01908 544115

College Hill
Matthew Smallwood                           020 7457 2020




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

AGMILFVDDRIDLIR
Luminar Group (LSE:LMR)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Luminar Group Charts.
Luminar Group (LSE:LMR)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Luminar Group Charts.