18 Jan 2017 12:00
18 January 2017
Rotala plc
("Rotala" or "the Company" or "the Group")
Contract Wins
Rotala today announces a number of recent contract wins.
Further to its trading statement on the 3 November 2016, which highlighted the completion of the integration of the OFJ business at Heathrow Airport, the Company announces three recent contracts that will, by using for the most part existing depot and vehicle fleet assets, improve operational efficiency.
New contract - Bicester Shopping Village
The Group has secured a multi-stage contract with APCOA Parking UK Limited to provide transport services to and at this well-known shopping location near Bicester and the M40. This contract has a minimum duration of three years and when fully operational in April 2017, is expected to provide the Company with annualised revenues of approximately £1.2 million.
Under this contract, Rotala provides a popular daily tourist transport route to the Village from London and will provide a bus link to and from Bicester train station. In addition, Rotala provides bus services on location allowing links between the shopping precinct itself and the more distant of its surrounding car parks. Most of the vehicle requirement of the contract will be met by vehicles currently within the fleet.
New contract - Surrey Service 458
The Group has commenced operation of a bus service supported by Surrey County Council (service 458). This 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. The contract, which is supported by subsidies from the local authority, has a duration of 9 months and is expected to provide revenues of approximately £375,000. Vehicles for the service are being provided from within the existing group bus fleet.
New contract - Crew Transportation
The Group has secured a two year contract with Singapore Airlines to transport their crews to and from Heathrow Airport and their overnight hotels. This contract is expected to produce revenues of approximately £300,000 in a full year and utilises existing vehicles in the depot fleet.
The board is pleased with the progression of its Heathrow based operations and believes that there are further opportunities for the Company to expand its services in the surrounding area, utilising the Heathrow depot.
For further information please contact:
Rotala Plc | 0121 322 2222 |
John Gunn, Chairman | |
Simon Dunn, Chief Executive Officer | |
Kim Taylor, Group Finance Director | |
Nominated Adviser & Broker: Cenkos Securities plc |
020 7397 8900 |
Stephen Keys/Callum Davidson (Corporate Finance) Michael Johnson/Julian Morse (Corporate Broking)
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