Rotala says current trading in line as it lifts FY pre-tax profit

Shares in UK transport solutions provider Rotala were up almost 3% after it recorded a triple-digit rise in full-year pre-tax profit and said trading in the current year was in line with budget.

Rotala confirmed that during 2016 it made one significant acquisition and two small ones.

The biggest of these was its Heathrow depot, considerably increased the company's presence in this key market.

"The two smaller acquisitions were aimed at the coach charter market in the North West, in which we have now established a useful foothold."

Rotala also said that the aims of the Government's Buses Bill had become much clearer in the last year.

"The effects of the Bill look to be very positive for your company, as I explain in more detail below, though it will inevitably be the cause of continuing instability in the UK bus market," the company said.

Rotala's pre-tax profit was £2.69m, from £742,000, as its revenue ticked up to £54.98m, from £50.89m.

"The group performed well in 2016 and trading for the current year has begun in line with budget," it said in its results statement.

"Turnover in the current year should show further significant growth."

At 14:56 GMT, shares in AIM-quoted Rotala were up 2.83% to 54.5p each.