Nightclubs owner Luminar is included in a portfolio of six FTSE 350 shares compiled by The Times’ Tempus column, which have p/e ratios in single figures.
Luminar is “the wild card”, currently in turnaround mode after a profit warning in January 2003.
The column says Luminar, with a prospective p/e ratio of 8.10, is investing heavily in the refurbishment of its 300 bars and clubs. The decline in its trading has slowed, with like-for-like sales at 3%.
The Times 27/03/04 page 61 (Tempus)
The Times Magazine 27/03/04 page 89
