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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 StockMarketWire.com

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