8 Oct 2013 07:00
8 October 2013
Rotala plc
("Rotala" or "the Company")
Hedging of Fuel Costs
Rotala is pleased to announce that the Company has taken advantage of the recent dip in the oil price and the strength of Sterling to fix the price of fuel on approximately 95% of its anticipated requirements through to the end of 2014 and 30% of its requirements in 2015. The price achieved is a little below that used for current budgets and forecasts and gives management certainty over one of the Company's major costs for the foreseeable future.
Furthermore the fuel fix which provides 75% of the hedge described above takes the form of Shell's Fuel Save Diesel product which is proven to reduce fuel consumption and emissions at the same time as maintaining engine efficiency over total engine life.
Rotala currently uses 10 million litres of fuel per annum.
For further information please contact:
Rotala Plc | |
John Gunn, Chairman | 020 7602 7500 |
Simon Dunn, Chief Executive | 07825 808 525 |
Kim Taylor, Group Finance Director | 07825 808 529 |
Numis Securities Limited | 020 7260 1000 |
David Poutney (Corporate Broker); Stuart Skinner/Richard Thomas (Nominated Adviser) |