- Minoan Group has reported that the its consolidated results for the year ended 31 October 2013 will be in line with market expectations.

Gross revenues from travel will be around £45m with operating profits from the continuing travel businesses in excess of £600,00.

This follows a reorganisation and rebranding of the business which is expected to be reflected in further improvements in the current financial year.

Christopher Egleton, chairman of Minoan, said: "Profits from the continuing operations of the travel business reflect a robust performance and take into account the recent deliberate slowing of the Group's acquisition drive to ensure new travel agencies were properly integrated."

He added: "With the travel business performing well and the submission of the SEA now imminent, the Group can start to implement the next phase of its strategy to capitalise on the positive developments for its business in both Greece and in the UK."

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