Rotala trades in line following Bolton acquisition
British transport solutions firm Rotala said on Monday that it had traded in line with market expectations during 2019, achieving "significant additional growth" thanks to a recent acquisition.
Rotala said its growth was boosted through the acquisition of the Bolton depot of First Manchester in August 2019, which "considerably enlarged" the group's operations in the North West and making it the second-largest bus operator in the Greater Manchester market.
The AIM-listed company also said it was expected to realise further benefits from the Bolton acquisition during the course of the current financial year as synergies materialised.
Looking ahead, Rotala noted that trading for the current year had begun in line with budget and said its board remained focused on identifying suitable acquisitions with a view to continuing to expand operations.
"The group performed well in 2019 and, with a strong management team and a comprehensive network of operating facilities, is well placed to capitalise on its enhanced position in a period when the bus industry continues to undergo considerable change," said Rotala.
As of 0845 GMT, Rotala shares were down 2.07% at 52.88p.