16th Nov 2020 17:29
Rotala PLC - West Midlands-based bus operator - Says cash flow, both at Ebitda level and net of all debt, interest and other payments, has been positive since the beginning of May 2020 and is expected to remain so for the foreseeable future. Financial performance throughout the Covid-19 crisis underpinned by key support of UK government at local and national level. Passenger numbers rose steadily over summer but commencement of renewed lockdown has reduced passenger volumes once again to about 45% of pre-Covid-19 levels. Looking ahead, expects annual results to be broadly the same at the normalised level as the interim results.
"We continue to believe that opportunities for growth, both organic and by acquisition, will arise once the crisis has passed. The group's service delivery and reliability levels have improved throughout the crisis and our increased investment in systems infrastructure has continued to produce discernible benefits. The board is therefore confident that operationally the group is in good shape, well able to meet the challenges and capture the opportunities that lie beyond the end of the Covid-19 crisis," says Chief Executive Simon Dunn.
Current stock price: 25.94 pence
Year-to-date change: down 53%
By Arvind Bhunjun; [email protected]
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