Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Greece and Crete exposed tourism firm the Minoan Group has reported a successive year of loss, although substantially lower than 2019s result.
For the year ended 31 October, the overall group loss was reduced to £876,000 a sharp reduction from the firms previous loss of £2,077,000. This was driven by finance costs being reduced by £1,266,000.
In further developments, the group has appointed Deloitte to assist the board and review plans and has progressed with discussions regarding adjustments to its contracts.
Minoan chairman, Christopher Egleton commented: I am pleased that we have been able to make progress in what has been a very difficult period for any business associated with the tourism industry. The Crete project's inherent flexibility allows it to meet the changing demands in the post-Covid world.
At 9:10am: (LON:MIN) Minoan Group PLC share price was 0p at 1.15p