RM PLC
21 September 2006
21 September 2006
RM plc: pre-close update for the year ending 30 September 2006 - trading
consistent with full-year profit expectations
As part of its normal programme of communications with shareholders, RM is
issuing an update on current trading prior to the end of its financial year on
30 September 2006.
Trading during the year so far, including the peak summer selling season, has
been consistent with management's expectations for profit for the year as a
whole. Revenue for the year is likely to be similar to that in 2005, with growth
in the Group's education projects business offsetting the previously reported
budget pressures in the individual schools market. Customer satisfaction, the
Group's key non-financial performance indicator, is likely to exceed
management's target and show a significant increase on last year.
Tim Pearson, CEO of RM, commented:
'At the beginning of the year we reported that we'd put in place a plan to
respond to tough conditions in some of our markets. I'm pleased to report that
our rapid response to these conditions, combined with our growing education
projects business, mean that we anticipate reporting profits in line with
expectations for the year.
'It's very pleasing that we are achieving this progress whilst maintaining a
major investment in bidding for education project business. We recently
announced further success in the Building Schools for the Future programme with
our appointment as preferred bidder for a major BSF ICT contract with
Stoke-on-Trent City Council.
'This week will also see the demonstration of early-stage functionality of
'Glow' at the Scottish Learning Festival in Glasgow. Glow, which was previously
known as the Scottish Schools Digital Network, will provide a highly innovative
online learning service throughout Scotland. The project continues to make good
progress and we expect to launch it in mid-2007.'
- Ends -
For further information, please contact:
Mike Greig/Phil Hemmings, RM plc 08709 200200
Fiona Laffan/Mark Antelme, Brunswick 020 7404 5959
Notes to Editors:
RM expects to announce preliminary results for the year towards the end of
November 2006.
RM's business is seasonal, with schools' purchasing patterns meaning that the
majority of revenue and an even greater proportion of profit occur in the second
half of the year.
Founded in 1973, the RM Group is a leading provider of educational products and
services to schools, colleges and universities, local government, and central
government education departments and agencies. Recognised as a leading innovator
in the educational information and communications technology (ICT) arena, RM
works closely with educationalists to create new products, processes and
technology which improve teaching and learning.
This information is provided by RNS
The company news service from the London Stock Exchange
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