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Luminar Group Hlgs (LMR)

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Thursday 13 January, 2011

Luminar Group Hlgs

Interim Management Statement

RNS Number : 3810Z
Luminar Group Holdings PLC
13 January 2011
 



Luminar Group Holdings plc

 

Interim Management Statement

 

Luminar Group Holdings plc (the "Group") announces its Interim Management Statement for trading to 6th January 2011. The Group also provides a trading update for the 12 weeks from 15th October 2010 to 6th January 2011.

 

Before and after the extreme weather conditions experienced throughout the country in the lead up to Christmas, the Group saw a reduction in the decline in sales from the level reported in its interim announcement in October 2010.

 

Excluding those weeks affected by the weather, same outlet sales for the 12 weeks to 6 January 2011 fell by 13.6% (compared to 16.9% for the 7 weeks to 14 October). Over the trading weeks of Christmas and New Year same outlet sales were ahead of anticipated levels and forecast. Including those weeks affected by weather same outlet sales for the 12 weeks to 6 January 2011 fell by 19.4%. Overall, same outlet sales for the 45 weeks to 6 January 2011 fell by 19.6%.

 

As expected, gross margin has been slightly lower reflecting the introduction of premium brands into the business. Customer reaction has been positive to the introduction of various initiatives including premium brands, cocktails and live entertainment.

 

As previously announced the Group refinanced its debt in December 2010.

 

The Group continues to manage cash closely and is investing in its estate selectively, targeting incremental revenue generating opportunities.

 

13 January 2011

 

Enquiries:

 

Luminar Group Holdings plc

Tel: 01908 544100

Simon Douglas, Chief Executive


Philip Bowcock, 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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