StockMarketWire.com - Minoan Group posted a first half loss of £1.1m and said had progressed a proposed sale of its travel and leisure division to pay down debt.

Losses had widened from the £907k of red ink reported in the previous corresponding period.

'As previously stated, the completion of the sale of the travel and leisure division will allow me and my fellow directors to concentrate our efforts to optimise the value for shareholders of the group's project in Crete,' chief executive Christopher Egleton said.

'In this coming period I believe that we will conclude the sale of the business.'


At 9:37am: [LON:MIN] Minoan Group PLC share price was 0p at 5.7p



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