Full-year trading update

RNS Number : 2667W

RM PLC

10 December 2019

 

10 December 2019

Full-year trading update

Performance in line with expectations

The Board of RM plc ("RM") expects results for the financial year ended 30 November 2019 to be in-line with expectations.  Net debt at the year-end was £15m (2018: £6m) after funding the acquisition of SoNET.

David Brooks, Chief Executive of RM, said: "Whilst trading has remained challenging in our resources business in 2019, we have seen growth in our two technology divisions benefitting from encouraging early progress following our acquisition of SoNET."

The Group's Preliminary results for the period ended 30 November 2019 will be released in early February 2020.

Contacts:

RM plc

David Brooks, Chief Executive Officer

Neil Martin, Chief Financial Officer

08450 700 300

Headland Consultancy (PR adviser to RM)

Stephen Malthouse        0203 805 4822

Abena Affum                     0203 805 4822

Notes to Editors:

RM plc is a leader in the education sector, providing support throughout the stages of education with its three focused divisions:

·    RM Resources is the established provider of education resources for early learning centres, primary schools and secondary schools across the UK and internationally. Our trusted brands, TTS and Consortium, develop and supply resources to help bring the curriculum to life for teachers and students across over 80 different countries.

·    RM Results a market-leading provider of e-Assessment services, enabling e-marking, e-testing and the management and analysis of educational data.  Every year RM Results provides the technology to help our customer deliver c. 15 million exams, working with world renowned exam providers, professional bodies, education establishments and governments.

·    RM Education is a market-leading supplier of ICT software, technology and services in the UK.  It helps schools save time and money and enables them to enhance the impact of technology on teaching and learning.

Consensus forecasts for financial year ended 30 November 2019^* vs. prior year comparative:

·    Revenue: £224m (2018: £221m)

·    Adjusted PBT: £26.3m (2018: £26.0m)

·    Adjusted EPS: 25.5p (2018: 25.8p)

Source: Bloomberg (09.12.19)

*2019 figures reflect the adoption of IFRS15.  2018 figures are stated under the prior accounting standards.  

 

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