 saw shares rise over 5 percent on Friday, after announcing that it had trebled its pre-tax profit over the course of 2016.){kind=link}
Bus operator Rotala (LON:ROL) saw shares rise over 5 percent on Friday, after announcing that it had trebled its pre-tax profit over the course of 2016.
The company, who own several bus companies including Diamond Bus and Hallmark Coach, reported a turnover of £55 million in 2016, up 8 percent on the previous year.
Profit before taxation hit £2.7 million in 2016, up from £742,000 the year before. Cash flows from operating activities soared by 54 percent to £6.46 million, with basic earnings per share rising to 5.49p per share, from 1.74p the previous year.
The company completed three acquisitions during the year, expanding on operations in both Heathrow and the North West. The acquisition for its Heathrow depot, the largest of the three, will considerably increase Rotala’s presence in the market. The two smaller acquisitions were aimed at the coach charter market in the North West, in which Rotala has now established a useful foothold.
John Gunn, the company’s chairman, commented:
“Following the three acquisitions which were made in 2016, together with the more recent announcements of new business, turnover in the current year should show further significant growth.
“The group benefits from strong banking and broking relationships which will provide the finance for future acquisitions. Rotala has grown predominantly through acquisition and we continue to be actively engaged in looking for attractive acquisition opportunities.”
Shares in Rotala are currently up 5.66 percent at 56.00 (1238GMT).