- Greece and Crete exposed tourism firm the Minoan Group has reported a successive year of loss, although substantially lower than 2019’s result.

For the year ended 31 October, the overall group loss was reduced to £876,000 a sharp reduction from the firm’s 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

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