Interim Management Statement
January 14 2010 - 2:00AM
UK Regulatory
TIDMLMR
RNS Number : 5237F
Luminar Group Holdings PLC
14 January 2010
Luminar Group Holdings plc
Interim Management Statement
Luminar Group Holdings plc (the "Group") announces its Interim Management
Statement for trading to 31st December 2009.
The general economic conditions, and in particular youth unemployment, continue
to have a significant impact on our core customers and to affect the frequency
of their visits to our venues. Recently, this has been exacerbated by
extremely poor weather across the UK, which has a significant effect on
footfall.
Within this context, we were very encouraged by much better sales on the key
festive nights of Christmas Eve and New Years Eve, and by average sales per
customer which were 1.5% higher in December than the previous year.
The combination of these factors resulted in same outlet sales in December being
13.8% below last year, broadly similar to the trend established in September,
since when sales have been 13.4% below last year. Same outlet sales across the
first 44 weeks of our financial year to 31 December have been 8.1% below last
year.
In view of the prolonged weather impact and the continued sales trend the Group
now expects profit before tax for the year to 25 February 2010 to be below
market expectations.
The Group is actively managing cash resources and has deferred capital
expenditure plans such that investment in the current financial year is now
expected to be approximately GBP5m. Net borrowings continue to reduce, and were
approximately GBP96m at the end of December within a borrowing facility of
GBP175m. The Group continues to trade within its banking covenants.
The Group also continues to actively pursue the sale of its investment in 3D
Entertainment Group Limited, as reported in the Trading Update on 17 December
2009.
Full year results for the year to 25 February are expected to be announced on 13
May 2010.
14 January 2010
Enquiries:
+------------------------------------+------------------------------------+
| Luminar Group Holdings plc | Tel: 01908 544100 |
+------------------------------------+------------------------------------+
| Stephen Thomas, Chief Executive | |
+------------------------------------+------------------------------------+
| Robert McDonald, Finance Director | |
+------------------------------------+------------------------------------+
| | |
+------------------------------------+------------------------------------+
| College Hill | Tel: 020 7457 2020 |
+------------------------------------+------------------------------------+
| Matthew Smallwood | |
+------------------------------------+------------------------------------+
| Jamie Ramsay | |
+------------------------------------+------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
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