Trading Update
December 17 2009 - 10:19AM
UK Regulatory
TIDMLMR
RNS Number : 3229E
Luminar Group Holdings PLC
17 December 2009
Luminar Group Holdings PLC
Trading update
Luminar Group Holdings PLC (the "Company" or "Group") notes the movement in its
share price today.
Since the Company's interim results which were announced on 22 October 2009, the
Company has experienced trading levels which continue to be difficult and
broadly in line with the trend reported at that time.
We are well prepared for the very important Christmas and New Year trading days
which will, to a large extent, determine the final outcome for the year. In
order to meet market expectations, a significant improvement over recent sales
trends will be needed for the remainder of the year.
The Group continues to trade comfortably within its financial covenants. The
Group's borrowing of approximately GBP100m is within a syndicated loan facility
of GBP175m which extends to August 2012.
The Group continues to actively pursue the sale of its investment in 3D
Entertainment Group Limited. However, given the uncertain trading environment in
which 3DE operates, the sale outcome is now expected to be significantly below
the carrying value of GBP17.3m included in the Group's balance sheet as at 27
August 2009.
The Company will provide an update on Christmas trading and outlook for the full
year to 25 February 2010 on 14 January 2010.
17 December 2009
Enquires
+------------------------------------+------------------------------------+
| Luminar Group Holdings plc | Tel: 01908 544100 |
+------------------------------------+------------------------------------+
| Stephen Thomas, Chief Executive | |
+------------------------------------+------------------------------------+
| Robert McDonald, Finance Director | |
+------------------------------------+------------------------------------+
| | |
+------------------------------------+------------------------------------+
| College Hill | |
+------------------------------------+------------------------------------+
| Matthew Smallwood | Tel: 020 7457 2020 |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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