StockMarketWire.com - Minoan Group has narrowed its FY pretax loss to £1.04m, from a year-earlier loss of £1.2m. Revenue totalled £5.9m, from £9.2m.

Highlights:

· Substantial progress has been made in both of the Group's divisions during the year under review, the major benefits of which will be felt in the current year

· Total transaction value and gross profit for the Travel and Leisure ("T&L") division for the new financial year are cumulatively ahead year-on-year in excess of 15%

· Gross profit for the year ended 31 October 2014 was up approximately 10% from £5,196,000 to £5,680,000.

· Plenum of the Greek Council of State has unanimously approved the terms of the Presidential Decree in respect of the Group's Project in Crete (the "Project")

· Final steps will be for the Presidential Decree to be signed by the relevant Ministers and President of the Greek Republic

· Discussions with joint venture partners and others have been ongoing and are expected to accelerate following the issuance of the Presidential Decree

· Group well-positioned to reap the benefits of the excellent progress made in securing final approval for the Project and of the buoyant trading performance of the T&L division.




At 9:14am: [LON:MIN] Minoan Group PLC share price was +0.38p at 11.75p



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