Luminar, which owns the Oceana, Lava & Ignite and Liquid chains, said: "Whilst general consumer confidence has been falling, our target 18-30 age customers remain less susceptible to economic downturn.

"They live more for today, do not generally have mortgages, children or regular savings. These characteristics are even stronger amongst our core 18-24 age customers."

The comments came as Luminar posted a forecast-beating 12 per cent increase in underlying pre-tax profits to £31.5m in the 12 months to February 28.

Like-for-like sales at Luminar's branded clubs were 7.5 per cent ahead in the first 10 weeks of the new year. Milton Keynes-based Luminar is the UK's biggest nightclub operator with 2,000 employees and 100 venues, of which 52 are branded clubs.

The company has gained strength as other operators quit under pressure from legislative changes such as last year's smoking ban.

All but seven of Luminar's clubs have smoking areas and every venue has scenting machines to tackle the odour of sweaty dancers.

The group is also undertaking a series of acquisitions, disposals and refurbishments aimed at leaving it with 74 branded clubs in an 110-strong estate by 2011, although it scaled back original opening plans to concentrate on "prime market towns" in March.

Chief executive Stephen Thomas said the group was "confident" of further progress after Luminar also made £5.4m in cost savings last year.

Mr Thomas reportedly held talks with the Royal Bank of Scotland's private equity arm over a £250m management buyout earlier this year. Luminar said "informal discussions" had taken place but there was no current intention to pursue such a deal.

Some analysts also remained nervous over prospects despite Luminar's upbeat comments.