- Travel and leisure company Minoan Group said its travel business would post full-year revenues of more than £37 million, with operating profits of about £400,000.

"The good performance from the travel business helped to reduce losses at the Group level, which are expected to be lower than in the previous period despite the continuing costs of developing the Crete project, central costs and the share based payments charge," the company said in a statement.

It said trading since the financial year end had been very positive with commission up in excess of 20% across the travel business as a whole compared with the same period last year.

The full-year figures for 2013 were expected to show a substantial improvement compared to those for 2012.

Chairman Christopher Egleton said: "We are also pleased to see the Crete project's Fast Track status officially confirmed in law and we are due to submit our Environmental Assessment shortly."

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