Luminar Group profits hit by weather

Venue owner Luminar Group has sent out a warning to investors that it expects profits to be hit in the year to 25 February 2010 because of the recession and poor weather.

Luminar Group profits hit by weather
Luminar Group profits hit by weather

The listed firm, which owns event management brand Red Carpet Moments, said an encouraging Christmas had been tempered by the recent cold snap.

"The general economic conditions... continue to have a significant impact on our core customers and affect the frequency of their visits to our venues," said the group in a statement. "Recently, this has been exacerbated by extremely poor weather across the UK, which has a significant effect on footfall."

Luminar is actively trying to sell its investment in venue group 3D Entertainment, which owns the Chicago Rock Café, Jumpin Jacks and 3D Nightclubs brands.

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