Minoan enjoys holiday booking surge

By DOMINIC JEFF
Published on 06/02/2013 00:00

TRAVEL firm Minoan reported “very strong” trading this winter as the first batch of its automated sales booths in sub post offices helped it grow commissions by 20 per cent.

The Glasgow-based group, which started out as a listed vehicle for developing land on Crete but has branched out into the travel business with a wave of acquisitions in Scotland, said the year to 31 October was “robust”, with sales of £37 million.

Minoan made a £400,000 operating profit, which helped offset the ongoing costs of getting planning permission for its Cretan venture. The firm, which has built up most of its business in the past 18 months, did not publish previous figures for comparison.

The company’s chairman, Christopher Egleton, said: “Our travel buy-and-build strategy is paying off, with the recent acquisitions now integrated and the installation of the first 50 sub post office-based travel kiosks.”

The firm said 2013 figures are expected to show “a substantial improvement”.