Interim Management Statement
July 17 2009 - 2:00AM
UK Regulatory
TIDMLMR
RNS Number : 8320V
Luminar Group Holdings PLC
17 July 2009
Luminar Group Holdings plc
Interim Management Statement
Luminar Group Holdings plc will hold its Annual General Meeting today at 1pm.
This Interim Management Statement, which coincides with the AGM, covers the
period since 27 February 2009.
Trading for the period has improved slightly since the last trading update
contained within the preliminary results announcement on 14 May 2009. Same
outlet sales (across 87 units) fell by 3.3% during the first 18 weeks of the
year to 2 July compared to the previous year (9 weeks to 30 April: 3.8%
decline). Within this total, admissions revenue increased by 0.7% on footfall
1.2% higher, but drinks revenue fell by 5.4%, primarily due to the lower retail
prices of drinks compared to the previous year.
Retail prices for drinks have now stabilised and are on a rising trend, as
marketing and operations increasingly focus on content and providing strong
reasons to visit rather than price promotions. As retail prices have held
firmer, gross margins are ahead of the second half of last year.
The Group continues to actively manage operating costs and general expenditure;
in particular capital expenditure, which is now focused on maintaining the high
quality of the venues. Consequently the trading estate has remained stable
during the period, although two units in Maidstone have now operationally merged
such that the trading estate now totals 88 units, from 89 at the end of the last
financial year.
The Group is cash generative and has significant headroom within its banking
facilities, which run to 2012.
Trading conditions in the late night sector are very competitive and we expect
market conditions to remain difficult in the short term. However, the Group is
confident that, given the strength of the estate, together with operational and
marketing expertise and a well trained workforce, it will continue to outperform
competitors and maintain its market leading position.
17 July 2009
Enquiries
+------------------------------------+------------------------------------+
| Luminar Group Holdings plc | Tel: 01908 544100 |
+------------------------------------+------------------------------------+
| Stephen Thomas, Chief Executive | |
+------------------------------------+------------------------------------+
| Robert McDonald, Finance Director | |
+------------------------------------+------------------------------------+
| | |
+------------------------------------+------------------------------------+
| College Hill | Tel: 020 7457 2020 |
+------------------------------------+------------------------------------+
| Matthew Smallwood | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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