Results round-up

Bus and coach operator Rotala’s half year revenues increased due to the acquisition of OFJ Connections, while it remains positive about the Buses Bill in parliament.

For the six months ended 31 May, revenue increased by 11% to £27.4m compared to the same period last year. Operating margins remained flat at 18.2% and pre-tax profits, before exceptional items, increased by 9% to £1.135m.

The acquisition of OFC Connections, a supplier of ground transportation services at Heathrow, Gatwick, London City and Southampton airports, in January contributed to the rise in revenues in the company’s contracted services department. Revenue rose by 22% to £9.8m.

Local authority bus contracts also contributed to the rise in revenue in the department as it comprises about 15% of the company's turnover. The 2015 acquisition of Green Triangle Buses provided the company with a much better geographical spread from where revenue came from.

Revenue in the commercial services department rose 5% to £16.6m, also in part due to the acquisition of OFC Connections, and comprises about 61% for the company’s turnover.

Revenue in the chartered services department rose by 41% to £980,000 due to the acquisition of Uxbridge-based luxury coach company Wings in June 2015.

Creative audio-visual company MediaZest posted its final results for the year ended 31 March on Friday, reporting its best ever financial results with turnover of £3.14m and EBITDA profit of £0.06m, before a non-cash share option based charge of £0.14m.

The AIM-traded firm achieved 26.6% growth in turnover year-on-year, which its board put down to a combination of new business and expanding project work with its current client base.

It also posted an increase in recurring revenue streams, following strategic targeting of that area by the company to allow for greater visibility of future earnings.

MediaZest improved its average gross margin to 42%, from 32% in the prior year, which it said was a result of improved recurring revenues.

It completed its second Rockar Hyundai dealership at Westfield Stratford in December 2015, and gained a number of new clients during the period including Specsavers, Adidas, Diesel, Mamas and Papas, UGG, Farrow & Ball and John Lewis Partnership.