Europe’s largest nightclub operator, The Luminar Group, which runs Oceana in Watford, today announced a profitable first year’s trading performance for the 52 weeks until February 23.
Following its acquisition 18 months ago by a new management team, led by chief executive Peter Marks, the company delivered a profit before tax of £1.3m and an EBITDA of £7.3 million.
Commenting on the results, Luminar’s regional director for the Midlands, Mark Molton said: "This is an impressive set of results that demonstrates that the business is heading in the right direction. We have delivered strong financial progress, paid down our final deferred consideration payment ahead of schedule and are now in a position to continue to invest in our clubs and our people to build a profitable future.
"This is a really solid performance which demonstrates that there is still positive upside in the UK nightclub market for professional and well-funded operators.
"We have worked hard to transform the business and we believe that Oceana offers one of the region’s best nights out."
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