Trading Statement

RNS Number : 9184A

Rotala PLC

27 January 2020

 

RNS

27 January 2020

Rotala Plc

("Rotala" or the "Company" or the "Group")

Pre-close trading statement

Rotala plc (AIM:ROL),, a provider of transport solutions across the UK, announces the following update on trading for the year ended 30 November 2019 ("FY 19") and the prospects for the current year ending 30 November 2020 ("FY 20").

FY 19 trading

The Company is pleased to announce that trading during FY 19 was in-line with market expectations. During the financial year, the Group achieved significant additional growth through the acquisition of the Bolton depot of First Manchester Limited in August 2019. This acquisition was made in accordance with the Group's stated strategy and has considerably enlarged the Group's operations in the North West, making the Company the second largest bus operator in the Greater Manchester market. The Company is expected to realise further benefits from the Bolton acquisition during the course of the current financial year, as further synergies materialise.

Dividend

The Company expects to maintain its progressive dividend policy and will be announcing details of a final dividend payment in due course.

FY 20 outlook

The Company is pleased to report that trading for the current year has begun in line with budget. Furthermore the Board remains focused on identifying suitable acquisitions with a view to continuing to expand the operations of the Group, thereby making full use of the ample financial facilities which it possesses.

The Group performed well in 2019 and, with a strong management team and a comprehensive network of operating facilities, is well placed to capitalise on its enhanced position in a period when the bus industry continues to undergo considerable change.  

The Company expects to publish its results for the year ended 30 November 2019 in early April 2020.

Rotala Plc	0121 322 2222
John Gunn, Chairman Simon Dunn, Chief Executive Kim Taylor, Group Finance Director
Nominated Adviser & Joint Broker: Cenkos Securities plc	020 7397 8900
Stephen Keys/Callum Davidson (Corporate Finance) Michael Johnson/Julian Morse (Corporate Broking)
Joint Broker: Dowgate Capital Stockbrokers Ltd	0203 903 7715
David Poutney/James Serjeant (Corporate Broking)

 

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