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(Alliance News) - Transport services provider Rotala PLC said Monday that trading in financial 2019 was in line with expectations, fostering confidence for financial 2020.
For the year ended November 30, 2019, Rotala said it achieved significant growth through the acquisition of the Bolton depot of First Manchester Ltd, a subsidiary of FirstGroup PLC, in August for GBP5.3 million.
The acquisition will make Rotala the second largest bus operator in the Greater Manchester market, and the company expects to realise further benefits from the deal.
Looking ahead, Rotala said year to date trading in financial 2020 is in line with budget and that the company will look for suitable acquisitions to expand its operations.
The company intends to maintain its progressive dividend policy and will announce a final dividend payment in due course.
Rotala will publish its financial 2019 results in early April.
Shares in Rotala - which is based in Tividale - were untraded on Monday, last quoted at 54.0 pence in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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