The parent company of two Preston nightclubs has revealed an 18 per cent leap in its annual profits.
The Luminar Group, which operates clubs Cameo and Evoque, delivered a profit before tax of £3.7m and a turnover of £93m.
At the time of acquisition, the Board’s focus was on stabilising The Luminar Group and developing a clear strategy for growth.
Luminar employs 3,000 people, and operates 58 nightclubs and bars nationwide.
The company has also announced it will re-brand its corporate business as The Deltic Group.
This will not impact the trading names of its clubs and bars.
Chief executive officer Peter Marks said: “At the time of acquisition, the Board’s focus was on stabilising The Luminar Group and developing a clear strategy for growth. The company has now delivered its third year of growth, with its strategic focus on investing in its estate, people and entertainment to create great nights out for its customers, delivering strong results.
“The acquisition of eight sites from Chicago Leisure in 2014 marked a change in direction, with plans to develop a late night bar business to complement our existing nightclub offer. As such, the time is now right to change the company’s name to reflect its future strategy.”
The Board said it had chosen the name Deltic to signify change.
Luminar has continued to invest over £8.5m in its estate with major refurbishments, including £268,000 at Preston venue Cameo.
The company says it continues to develop its entertainment strategy, with spend up 50 per cent on 2014.
This has included partnerships with premier comedy clubs, Glee and Manford’s, a Student Big Night Out and a tour just announced with Jess Glynne.
“The Deltic Group is setting new standards in late night bars and clubs with well invested, stylish venues,” said Mr Marks.