1st Dec 2015 08:40
LONDON (Alliance News) - Rotala PLC, which provides bus, coach and transport management services, on Tuesday said it has extended measures taken to protect itself against fluctuations in the cost of fuel.
The company said it has extended its fuel hedges into 2018, with about 43% of its requirements for that year hedged at an average price of 91.0 pence per litre.
Rotala's arrangements for 2018 have put hedging in place at a lower average price than the two prior years. The company has hedges against about 89% of its fuel requirement for 2016 at an average price of about 101p per litre. Hedging arrangements cover about 84% of requirements for 2017 at an average price of about 95p per litre.
"The board will continue to monitor market conditions closely and take out such further fuel hedges as it deems are appropriate to meet its objective of reducing volatility and creating business certainty," Rotala said in a statement.
Shares in Rotala were untraded on Tuesday morning, having last traded at 65.00p.
By Samuel Agini; [email protected]; @samuelagini
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