22nd Jan 2014 09:45
LONDON (Alliance News) - Bus services group Rotala PLC said Wednesday in a pre-close trading statement for the year ended November 30, 2013 that pretax profit for 2013, on a similar level of revenue, was modestly ahead of 2012 and broadly in line with management expectations.
Rotala said its operating cash flow for the financial year just ended was strong, although its net debt increased slightly to GBP19.9 million, having spent GBP3.8 million on acquisitions.
"The bus industry continues to be volatile and in a state of some change. In this light, we believe that the company produced an acceptable performance in 2013," Chairman John Gunn said in a statement.
The group said that the current financial year has started "reasonably", trading has begin in line with budget, and it has taken recent advantage of stable oil prices and the strength of the sterling.
It said its intends to release its final results at some point in March.
Shares in Rotala were trading 0.4% or 0.20 pence higher in early trading Wednesday morning, at 55.20 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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