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Up and down Christmas for Luminar

20 January 2005 by
Up and down Christmas for Luminar

Late-night bar and nightclub operator Luminar had a patchy Christmas, it revealed today.

While the festive period saw a decline in sales at its Chicago Rock and Jumpin Jaks outlets, this was offset by growth at its dancing venues, including Oceana, Lava Ignite and Liquid Life.

Total like-for-like sales for the five weeks to 2 January were down 3.9%, with its branded estate reporting a marginal increase of 0.2%.

By comparison, like-for-like sales at Oceana, Lava Ignite and Liquid Life were up 11.9%.

In its unbranded estate the decline was worse, with non-core units down 8.9% and core units down 5.5%.

However, margins were largely unchanged on Christmas the year before, it added.

Gross and net operating margins for the Christmas period were stable compared with the same period last year.

It also admitted that it will incur costs of £1m during the second half of its financial year from its ongoing reorganisation, which will be written off.

A total of 11 sites have now been sold during the second half, bringing disposals up to 13 and netting £8.4m, Luminar added.

by Nic Paton

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