Updates

Luminar - Breaking itself up

July 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Results for the year to 28 February are set to become of academic interest before long as Luminar is breaking itself up. Pretax profit declined by 12% to £54.2m and although a modest recovery in trading was seen around the middle of the year, it was not sustained over the key Christmas period with sales on a like-for-like basis ending down 4%. Earnings per share were 47.6p, down 21% due to a higher tax charge. Since these results were released, Luminar has sold the majority of its unbranded estate of nightclubs it didn’t want to retain to its management for £28m cash. It is also having late stage discussions to sell its entertainment division (72 units trading as Chicago Rock Café and Jumpin' Jaks) which a ...

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