Minoan Group plc (GB:MIN) has released an update.
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Minoan Group plc has announced a significant reduction in its annual pre-tax loss to £529,000, compared to £1,065,000 the previous year, mainly due to lower loan interest charges and a fall in the fair value of warrants. Operational costs have slightly decreased, while a collaboration agreement with a major international luxury hotel group has been signed to advance the development of the Itanos Gaia Project in Crete. Despite the promising developments, net assets have seen a slight decrease from the previous fiscal year.
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