Nexum Leisure – the operator of 11 large-capacity nightclubs – has announced like for like sales growth across its estate of 3 per cent over the past six months.

The majority of sites – of which six venues are operated on a freehold basis – are now achieving sales growth.

Total company sales are also “significantly ahead” of 2004. Over the past 12 months, two Nexum clubs have been completely refurbished with minor decoration in another, with per annum returns on investment in the three clubs of more than 70 per cent.

The company will invest in the refurbishment of three further sites over the next year and intends to identify opportunities for acquisition as they arise.

Chief executive Paul Kinsey said: “While we are cautious about the future effects of licensing deregulation, we are very satisfied with current trading.”

Nexum was formed in March 2004 to acquire the solvent assets of the former Springwood group. Details: www.c2u.co.uk