Luminar mourns ‘lost generation’

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The firm, which owns clubs such as Oceana, Liquid and Lava & Ignite, said customer numbers were down at its venues, stoking fears of a "lost generation" of jobless youngsters.

Chief executive Stephen Thomas is now looking to an older, richer clientele to reduce Luminar's reliance on 18 to 24 year-olds.

He said he is planning to focus on the "divorced, single and dumped" market to offset "rising levels of unemployment amongst our core market of young people".

Sales in the 26 weeks to 27 August were down 5.9% on the same period last year with visitor numbers off 2.9% and drinks revenue falling 6.6%.

Luminar said there was "a significant risk that the company will not meet market expectations for the full year".

Analysts were expecting profits of £15.5 million to £17 million this year against £20.3 million last year ,but were downgrading their forecasts today.