Interim Management Statement
July 13 2010 - 2:00AM
UK Regulatory
TIDMLMR
RNS Number : 2282P
Luminar Group Holdings PLC
13 July 2010
Luminar Group Holdings plc
Interim Management Statement
Luminar Group Holdings plc ("Luminar" or the "Group") will hold its Annual
General Meeting today at 1.00 p.m. at Luminar House, Deltic Avenue, Rooksley,
Milton Keynes, Buckinghamshire, MK13 8LW. This Interim Management Statement,
which coincides with the AGM, covers the 19 week period from 26 February 2010.
Trading
Trading for the period has, as anticipated, remained challenging but broadly in
line with the Board's expectations. Same outlet sales across 76 clubs for the 19
weeks to 8 July 2010 were down 19.9%. Within this, admissions revenue was down
26.0% on footfall 19.6% lower. Drinks spend per head has been relatively stable
and is 2.2% up for the period. As expected and in line with our experience of
previous tournaments, the World Cup has adversely affected trading, with sales
down approximately an additional 6% on the run rate. Gross margins for the
period have been maintained broadly in line with last year at 81.8 %.
The Group expects to achieve the previously disclosed GBP10m of cost savings in
the 2010/11 financial year. Capital expenditure remains focused on spending
which will enhance the customer experience.
The Group continues to be cash generative and expects net debt to be further
reduced at the half year. It continues to have constructive ongoing dialogue
with its banking Group.
Directorate changes
John Leach was appointed to the Board as Non-Executive Director in June and will
succeed Alan Jackson as Chairman, who is not standing for re-election at the AGM
today.
Philip Bowcock was appointed Finance Director on 1 June 2010. He succeeds Robert
McDonald who left the Group at the end of June.
13 July 2010
Enquiries:
+---------------------+--------------------------------------+
| Luminar Group | Tel: 01908 544100 |
| Holdings plc | |
+---------------------+--------------------------------------+
| Simon Douglas, Chief Executive |
+------------------------------------------------------------+
| Philip Bowcock, 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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