max temp: 16°C

min temp: 15°C


East Anglia: Increased profits for Liquid & Envy nightclub operator Luminar

10:36 21 May 2014

Inside one of Luminar

Inside one of Luminar's Liquid nightclubs.


Luminar, the UK’s largest nightclub operator, today revealed a near-50% increase in annual operating profits after its second full year of trading following its rescue from administration in 2011.


The group, which operates 53 venues around the UK including the Liquid & Envy clubs in Ipswich and Colchester, Evoke in Chelmsford and Bellare in Cambridge, reported revenues for the 52 weeks to February 22 of £88.263million, slightly down from £89.851m the year before.

But reduced administrative expenses left operating profits 49.3% ahead, at £6.653m against £4.457m, and pre-tax profits, after exceptional items, were more than double those of the previous year, at £3.401m compared with £1.326m.

The group invested £5.3m during the year in major projects, including the launch of multi-room PRYZM-branded sites in Bristol and Kingston. Clubs in Bournemouth, Cambridge, Lincoln, Preston and Romford also received investment and two sites wwere acquired, in Chelmsford and Dundee.

Chief executive Peter Marks said: “The strategy we adopted on acquisition continues to deliver and we are pleased with the consistent progress we are making. Luminar’s trading position continues to improve, as the effects of investment in our estate and our people together with a robust focus on cost control, improves profitability.”

Luminar was acquired by its present management in a £45m deal December 2011, two months after the company fell into administration when its bankers refused to extend a period of leniency on its borrowings.

A number of loss-making venues, including Brazilia in Bury St Edmunds, were closed by the administrators but most of the sites, including Liquid & Envy in Ipswich and Colchester, were saved.

The acquisition team was led by Mr Marks, a former executive at Luminar, together with Alex Geffert, a former head of leisure and nightclub business at Whitbread, and Joe Heanen, founder and owner of nightclubs including Mbargo, Bunker and Sodabar.

The group had been suffering for a number of years from a combination of the ban of smoking, the extension of pub opening hours and the impact of the recession on its core market of 18- to 24-year-old clubbers. However, the business is now free of bank debt and its refurbished venues are attracting more business.

Mr Marks said: “When we acquired the business, one of our key priorities was to refurbish the estate which had been under-invested for many years. Our investment programme is now starting to deliver results and we’re proud of the high quality nightclubs we now operate.

“In particular, PRYZM is at the cutting edge of UK clubs with the latest in sound technology together with luxury interiors and VIP pre-bookable booths attracting top name DJs including Duke Dumont and Zane Lowe.”

Luminar added that trading so far during the current year remained in line with expectations.



Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other Ipswich Star visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Ipswich Star staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Ipswich Star account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Police have cordoned off an alleyway between Blanche Street and Christchurch Street in Ipswich after a man was stabbed.

Police are hunting for three men after a man was stabbed in the chest in Ipswich last night.

Dan Poulter with employees at B&Q

A Suffolk MP has said he will do what he can to try and prevent a B&Q store closing down with the potential loss of around 100 jobs.

Julian King and Ian Lea talk about custom bikes at the Copdock Motorcycle Show.

There was something for all motorcycle enthusiasts at Trinity Park over the weekend as a popular event returned for its 24th year.

Today is National Burger Day and, to celebrate, we’ve picked out some of our favourites from across Suffolk.

Lord Nelson

You might wonder why the Lord Nelson in Fore Street has a glazed brick elevation to the ground floor when it is clearly a timber framed building of some considerable age, writes John Norman, of the Ipswich Society.

Olly Rofix drove a tractor the length of the country to raise money for the Teenage Cancer Trust 10 years after he was diagnosed with leukaemia

A Suffolk adventurer has returned from his latest expedition – from Lands End to John O’Groats on the back of a 1952 tractor.

Sam Harvey - the war hero immortalised in our culture

Last week, Mike Peters told the story of Suffolk Victoria Cross winner Sergeant Arthur Saunders.

Rod Kiddell

Rod Kiddell, former editor of the EADT and Evening Star, died recently, aged 72. Today, his son Tim Kiddell, and former colleagues, pay tribute to him.

Children's mental health problems are increasing in Suffolk. PA/PA Wire

A worrying increase in the need for mental health treatment in Suffolk was revealed on Saturday. But what is behind this rise?

Bury Magistrates Court.

Only a few days remain for people to object to government proposals to cut the number of magistrates’ courts in Suffolk.

Most read

Most commented

Topic pages