Birmingham bus and coach operator Rotala has reached a settlement with city rival National Express.
In April's annual results announcement, Rotala said it had written off £364,000 as part of a claim against National Express due to a 8.5 per cent fall in revenue in its contracted services division, down to £20.6 million from £22.5 million).
Chairman John Gunn said at the time the cause of almost all of that reduction was the loss in April 2013 of two route diagrams it operated up to then for National Express.
In a brief update to the stock exchange today, Rotala said: "Rotala is pleased to announce that it has reached a full and final settlement with National Express of its claim against (it) in terms satisfactory to the company."
Full terms of the settlement have not been disclosed.
In the results, for the year to 30 November 2013, Rotala recorded sales of £53.3 million, up from £54.8 million in 2012, and pre-tax profit of £2.05 million, down slightly year on year from £2.07 million.