MINOAN Group has seen its share price edge up almost one per cent after taking another step forward on its long-awaited resort development in Greece.

The travel company, which has its main base in Glasgow, said the Greek Ministry of Culture has approved the Strategic Environmental Assessment for the project along the Crete coastline. Shares nudged up 0.12p to 16.38p.

It follows on from backing received by the Central Archaeological Council of Greece and Minoan hailed the latest step as a significant part of the process towards getting the presidential decree needed to begin construction work.

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Christopher Egleton, chairman of Minoan, said:"We are delighted to have the unanimous support of the council, which reinforces our confidence in the successful conclusion of the process."