Cubus Lux confident on future projects despite flat interim figures
Wednesday, November 19, 2008
Cubus Lux plc, the Croatia-based leisure and tourism company, said today it was still on the lookout for projects to bolster its portfolio leisure destinations.
In a half-year update for the six months ended September 30, 2008, the company said that turnover was up 9% at £1.0 million and that pre-tax profits were flat at £0.2 million.
During the period the company snapped up the Hotel Sutomiscica project for £1.0 million, which is on land adjoining its marina at Sutomiscica. The project includes a 100 bed hotel, a small apartment house and conferencing and leisure facilities. Cubus said that facility would complement both the existing marina operation and the Olive Island Resort, and would support a stand-alone business including conferencing and training.
Executive chairman Gerhard Huber said: “The Olive Island project continues to be our main focus. This is the first of our large real estate developments and the realisation of the planned resort will provide a strong foundation for the company's future development. In addition, we are pursuing opportunities in all our divisions.”
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