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As of 11:30 AM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

optare plc (OPE) Snapshot

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52 Week High
09/17/13 - 0.36 GBp
52 Week Low
08/6/14 - 0.19 GBp
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-0.0020 GBp
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optare plc (OPE) Details

Optare Plc designs, manufactures, and sells single and double deck buses in the United Kingdom and internationally. The company offers mini buses, midi buses, coaches, metrodeckers, other lightweight vehicles, and parts. It also sells new and used vehicles; provides finance facilities, including hire purchase, finance lease, and operating lease; supplies kits of passenger vehicles; and provides aftermarket support and bus refurbishment services. The company is based in Sherburn in Elmet, the United Kingdom. Optare Plc is a subsidiary of Ashok Leyland Ltd.

403 Employees
Last Reported Date: 09/3/14

optare plc (OPE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: 87.8K GBP
Deputy Chief Executive Officer and Chief Tech...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

optare plc (OPE) Key Developments

Optare Plc Appoints T. Venkataraman to its Board as a Non-Executive Director

Optare Plc announced that T. Venkataraman has been appointed to the Board as a Non-Executive Director with immediate effect. Venkataraman Thyagarajan is currently the Head of Global Bus Business of Ashok Leyland Ltd. Venkataraman has 33 years' experience in the automotive industry and started his career in 1981 with various organizations such as Suhail Bahwan & Saud Bahwan Group, Amalgamations Group, McNeil & Magon and Enfield Motors.

Optare Plc Reports Unaudited Consolidated Earnings Results for the Year Ended March 31, 2014

Optare Plc reported unaudited consolidated earnings results for the year ended March 31, 2014. For the year, the company reported revenue of £56,947,000 against £75,938,000 a year ago. Loss from operations was £3,041,000 against £6,562,000 a year ago. Loss on ordinary activities before taxation was £4,061,000 against £7,350,000 a year ago. Loss attributable to the equity holders of the parent company was £4,061,000 against £7,350,000 a year ago. Basic and diluted loss per share was 0.2 pence against 0.3 pence a year ago. Net cash used in operating activities were £5,186,000 against £3,325,000 a year ago. Purchase of property, plant and equipment was £543,000 against £800,000 a year ago. EBITDA losses reduced to £1,900,000 against £3,600,000 a year ago. Group turnover decreased, mainly due to the completion of deliveries of the kits for the Cape Town tender, which generated significant revenues in 2012-13. Profit after tax was a net loss of £4.1 million, a reduction of £3.3 million on the prior year principally due to continued progress on driving cost reductions and increased process efficiencies.

Optare Plc Announces Union Action

Optare Plc announced that recent negotiations have not been able to prevent union led strike action at Sherburn manufacturing facility and that strike action will be in place on May 27, 2014 with another date planned for June 2, 2014. However, talks between Optare's senior management team and the union representatives remain ongoing and it is hoped that a resolution can be found in due course.


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