THE chairman of Minoan Group has signalled the firm's buying spree is likely to accelerate with more than £50 million of deals planned.

Christopher Egleton said the acquisitions of Scottish companies King World Travel, John Semple Travel and Stewart Travel Centre would not be the last in the travel and leisure sector.

In the group's report and financial statements for the year to October 31, 2011, he said: "The first phase of the implementation of the group's strategy in this sector is now substantially complete and total transaction value for the current year is expected to exceed £50m.

"While I am very pleased with the progress so far, the group's expansion from the existing Scottish cluster is very much on the directors' minds."