Rotala secures three new contracts

AIM-listed bus operator Rotala announced on Wednesday that it has won three new contracts in the UK.

The company has secured a multi-stage contract with APCOA Parking UK to provide transport services to and at Bicester Shopping Village. The contract is for a minimum of three years and when fully operational in April, it is expected to provide Rotala with annualised revenues of about £1.2m.

The second contract is a bus service supported by Surrey County Council that has already begun. The contracted service utilises Rotala's existing Heathrow depot, running a bus route from Staines to Kingston upon Thames via Walton on Thames and Esher every day half-hourly in both directions.

It has a duration nine months and is expected to provide revenues of about £375,000.

Rotala has also signed a two-year contract – expected to generate revenue of approximately £300,000 in a full year – with Singapore Airlines to transport their crews to and from Heathrow Airport and their overnight hotels.

For the most part, the contracts will use existing depot and vehicle fleet assets.

At 1325 GMT, the shares were up 7.3% to 57.94p.