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Minoan purchases Stewart Travel Centre

By BFN News | 09:38 AM | Friday 16 March, 2012


Minoan has signed an agreement for the purchase of the assets and business of Stewart Travel Centre having previously announced the acquisition of a 19.9% interest in Stewart and the signing of a management agreement for the future operation thereof on 1 June 2011. Stewart now employs 67 people. In addition to its cruise division, the group operates Stewart Corporate Travel as well as golf and affinity divisions. In its financial accounts for the year ended 30 April 2011 Stewart generated a net profit of £107,000 before exceptional items (£143,000 post exceptional items, mainly in respect of an insurance claim) on gross revenues (being total transaction value) of £19.7 million and commission of £2.1 million. At 9:38am: (LON:MIN) share price was +0.38p at 6.5p Story provided by StockMarketWire.com