Rotala Plc (ROL.L) Announced, in an update on trading for the year ended 30 November 2018 (FY 18) and the prospects for the current year ending 30 November 2019 (FY 19), that the trading during FY 18 was in line with market expectations. Net debt, which stood at �32.8 million at the half year, had fallen to �31.5 million by the end of the year. During the financial year, the company achieved further growth through the acquisition, from CEN Group Limited, of its entire bus business, trading as "Central Buses". This acquisition was made in accordance with the company’s declared strategy of acquisitive growth and has considerably strengthened the company’s network of bus services in the northern part of Birmingham, particularly in the Perry Barr area. The company also reported that trading for the current year has begun in line with budget. In the view of the company, the uncertainty and disruption caused by the Bus Services Act 2017 continues to drive change in the bus industry. Accordingly, the Board remains focused on identifying suitable acquisitions which will enhance and expand the services of the company. At the same time, it possesses ample financial facilities to undertake further acquisitions.
Login or register to post comments