On 27 January Rotala PLC issued its trading statement for the 2019 financial year. “The Company is pleased to announce,” it said, “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.”
Looking forward, Rotala expects to maintain its progressive dividend policy and expects to announce details of a final dividend payment in due course. Trading for the current year has begun in line with budget, it continued, whilst 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 statement concluded.
Rotala expects to publish its results in early April 2020 for the year ended 30 November 2019.
