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Luminar results less than expected
By Luke Tuchscherer
Luminar, the nightclub operator, has warned that its results for the year to 26 February will be lower than previously projected.
The company – owner of the Oceana, Liquid and Lava & Ignite nightclub brands – saw a 3.2 per cent increase in admissions in its dancing division on its main nights, but experienced a fall in spend per head.
Outside key trading nights and before Christmas, admissions were down on the year before.
As a result, Luminar has opted to scale back the planned further capital expenditure for the year ending 2010 from £35m to £15m.
Market expectations for full year pretax profit currently range between £20.5 and £29m, with the consensus at £26.2m according to a Reuters estimates poll. Shares fell over 15 per cent as the news was announced.
Luminar, the nightclub operator, has warned that its results for the year to 26 February will be lower than previously projected.
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