Cubus Lux to offload another division

Croatian tourism group Cubus Lux saw shares fall 10% on Tuesday after revealing that revenues will be below those of the previous year. The group also said that two of its three main business units are now up for sale.Negotiations concerning the previously announced sale of its casino business are still on-going. Cubus says that this unit has not generated any revenues since the half year mark in September, and turnover will be significantly below that of the year before.Revenues for the marina business are also "likely to come in behind budget and those of the previous financial year", and the group is considering the sale of this division also.The third division, Resort Developments, also seems to be going through a rough patch, and is contingent on procuring significant funding. "In the absence of any material funding the directors will be reviewing the ongoing liquidity of the company closely over the coming few months," the group said.---bc