RM PLC
17 September 2007
RM plc: pre-close update for the year ending 30 September 2007 - 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 its financial year on
30 September 2007.
Trading during the year so far has been consistent with management's
expectations for the year as a whole. In addition, the income statement for the
year will include an exceptional credit related to the Group's defined benefit
pension scheme (as described in the Group's interim results).
Tim Pearson, CEO of RM, commented:
'Our ability to provide innovative and educationally-effective solutions has
established RM as the ICT provider of choice in the BSF programme. Six local
authorities have now chosen RM as their ICT partner, and we've also been
successful in a BSF 'One School Pathfinder'. We will continue to invest in
bidding for longer-term business opportunities, including BSF, and are currently
working on our largest ever number of education bids.
'Our flagship Glow project, which is building a national education intranet for
every pupil and teacher in Scotland, goes live at the Scottish Learning Festival
this week. As well as being the most innovative educational project of its scale
in the world, Glow is a major technological achievement.
'Whilst education software has continued to be a challenging market, even after
the suspension of BBC jam earlier this year, we've seen good progress elsewhere
in our business. The acquisition of DACTA is an excellent fit for RM, building
on both our ICT expertise and our growing position as an education resources
provider; and we end the year as the leading supplier to the Government's
Computers for Pupils initiative.'
- Ends -
For further information, please contact:
Mike Greig/Phil Hemmings, RM plc 08450 700300
Mark Antelme, Brunswick 020 7404 5959
Notes:
1. 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. RM works closely with
educationalists to create new products, processes and technology which improve
teaching and learning. RM is listed on the main market of the London Stock
Exchange under the symbol RM.L.
2. RM expects to announce interim results for the year to 30 September 2007 on
19 November 2007.
3. BSF (Building Schools for the Future) is a Department for Children,
Schools and Families (DCSF, formerly the Department for Education and Skills)
programme that aims to transform education by rebuilding or substantially
refurbishing all secondary schools in England over the next 10-15 years. A key
part of the initiative is to ensure that local authorities develop a
sustainable, area-wide ICT strategy for schools, in line with the Government's
personalised learning agenda.
4. RM has been selected as ICT supplier for six BSF projects, of which four have
reached contractual close and two are at preferred bidder stage. The Group has
also been selected as preferred bidder for a £2.1m ICT contract as part of a
BSF 'One School Pathfinder' project in Dorset.
This information is provided by RNS
The company news service from the London Stock Exchange
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