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Clear Leisure slashes pre-tax losses

By BFN News | 08:05 AM | Friday 07 July, 2017

Clear Leisure slashed pre-tax losses to €397,000 in the year to the end of December - down from €20,246,000 in 2015. Operational losses fell to €156,000 (2015: €654,000) and the net asset value of the group increased to €1.6m (2015: €1.34m). Chairman and chief executive Francesco Gardin said: "The board remains committed to improving the financial health of Clear Leisure through court-led recoveries of misappropriated assets, asset sales and the buy-back of the debts of its subsidiaries at significant discounts. "Whilst we have achieved success with more than one of these areas, there remain a number of challenges to overcome before shareholders are rewarded for their patience. "We are confident that by continuing with our process, this ultimate goal will be achieved." Story provided by

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