Interim Management Statement

RNS Number : 9145R

RM PLC

17 September 2014

 



17^th September 2014

RM plc

Interim Management Statement

Trading Update

RM plc ("RM"), the educational IT and resources group, is today issuing its Interim Management Statement for the period from 1 June to 17 September 2014.  Trading in the third quarter of RM's 2014 financial year has progressed ahead of expectations. 

The repositioning of the Education Technology division continues to proceed satisfactorily with costs running below plan.  Lower costs than expected have also been incurred at the end of some long term managed service contracts.  Profitability of the personal computing devices business, which is being wound down, has continued ahead of plan.

Within the Education Resources division, good revenue growth and margin performance in TTS has continued ahead of expectations over recent months. 

The Assessment and Data Services division (trading as RM Results) continues to trade in line with growth expectations.

As a consequence, RM now expects a significantly more profitable second half than was anticipated at the time of the announcement of the half year results.

Net cash at 31 August 2014 was £28.2m, compared with £38.3m a year earlier.  This is after payment of the £14.7m special dividend in March and an additional £8m payment into the pension related escrow account in the first half.

Contacts

RM plc 08450 700300

David Brooks, Chief Executive Officer

Iain McIntosh, Chief Financial Officer

FTI Consulting 020 37271000

Chris Lane

Danny Wong

 

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