Nightclub operator Luminar has seen same-outlet sales drop by nearly 10% for the year to February 2010, it revealed ahead of its full-year results on 13 May.
The company, which said the final two months of the year were "severely affected by persistent poor weather across most of the UK", is expected to turn a pre-tax profit of £4m, according to City analyst Mark Brumby.
Last year the company made a pre-tax profit of £20.3m.
Luminar said full-year profits would be "in line with the Board's expectations" and added that it had reduced its debt pile to net borrowings of £93m, down £49m on the previous year.
It added that it would embark on a "rigorous" cost reduction strategy, as new chief executive Simon Douglas looked to provide a higher quality offering at "reasonable" prices.
Douglas, the former boss of music retail chain Zavvi, replaced Luminar's founder Stephen Thomas as chief executive last month.
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By Neil Gerrard
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