Pre-Close Update

RNS Number : 9650I

RM PLC

23 March 2010

 



23 March 2010

RM plc: pre-close update for the six months ending 31 March 2010 - trading in line with Management's expectations

As part of its normal programme of communications with shareholders, RM is issuing an update on current trading prior to the end of the first half of its financial year on 31 March 2010.

Trading in the year so far has been supportive of Management's expectations for the year as a whole. However, RM's business is highly seasonal and performance at this stage in the year is not a reliable indicator for the year as a whole.

Revenue for the first half will reflect further growth in RM's education resources business, as well as the previously indicated increase in BSF turnover. The result for the period will also reflect the Group's continued investment in people, systems and working capital to support growth in BSF, the UK education resources market and the US.

Terry Sweeney, Chief Executive of RM, commented:

"The first half of the year will see year-on-year revenue growth and a further increase in committed future revenues. As well as winning three new BSF projects in the first half, RM Learning Technologies has been chosen to provide ICT services to the Harris Federation's group of Academies and secured business with a number of individual Academies. In addition, RM Assessment and Data has confirmed multi-year framework agreements with two new strategic partners.

"The second half of the year will be extremely busy and we've been gearing up ahead of that. We anticipate commissioning 44 BSF schools (compared to 16 last year); supporting the marking of more examination scripts than ever before; a busy summer in the US; and delivering further growth in our education resources businesses."

- Ends -

For further information, please contact:

Mike Greig/Iain McIntosh/Phil Hemmings, RM plc	08450 700300
Chris Blundell/Franziska Boehnke, Brunswick	020 7404 5959

Notes:

1.   The RM Group is a leading provider of educational solutions that help teachers to teach and learners to learn. RM works closely with educationalists to create new products, processes and technology which improve education. RM is listed on the main market of the London Stock Exchange under the symbol RM.L, ISIN GB0002870417. Further details are available at www.rm.com/investors and through the Group's investor blog at rminvestors.wordpress.com

2.   RM expects to announce preliminary results for the six months to 31 March 2010 on 17 May 2009.

3.   RM's business is seasonal reflecting buying patterns in the schools marketplace: the majority of revenues and an even greater proportion of profit occur in the second half of the Group's financial year. As in previous years, performance in the first half is not a reliable indicator of full-year outcome.

 

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