The bars and clubs group said the former Hammersmith Palais had been disappointing in the last four weeks of the financial year. Gross sales had fallen from £100,00 in the week ending February 18 to a loss-making level of £45,000 a week.
Now a dedicated marketing team has been allocated to the site and the director are optimistic they can improve the situation over the next six months.
Core late-night bars and nightclubs remained "satisfactory and in line with expectations", the company said. Po Na Na and Fez Club openings in West London, Leicester and Lincoln and performed particularly well.
Analysts had pencilled in annual profit of £3.2m.