Trading Update

RNS Number : 0326K

RM PLC

11 December 2018

 

11 December 2018

Trading Update

The Board of RM plc ("RM") expects results for the financial year ended 30 November 2018 to be slightly ahead of expectations.

Group revenues increased significantly on prior year driven by the full year benefit of the Consortium acquisition and strong international sales growth.

RM Resources and RM Results both showed organic revenue growth and RM Education benefited from cost improvement initiatives, enabling its profit margin to reach double digit levels. 

Net debt reduced at the year-end by £7m to £6m.

David Brooks, Chief Executive of RM, said: "It's encouraging to see the Group's further progress and the positive performance in all three divisions."

The Group's Preliminary results for the period ended 30 November 2018 will be released in early February 2019.

Contacts:

RM plc
David Brooks, Chief Executive Officer Neil Martin, Chief Financial Officer	08450 700 300
Headland Consultancy (PR adviser to RM)
Stephen Malthouse, Chloe Francklin	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 is the world-leading provider of e-Assessment services, enabling e-marking, e-testing and the management and analysis of educational data.  Every year RM Results marks approximately 160 million exam pages, working with world renowned exam providers, professional bodies, universities and governments.

·      RM Education is the 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 2018 vs. prior year comparative:

·      Revenue: £215.5m (2017: £185.9m)

·      Adjusted EBIT: £26.0m (2017: £21.3m)

·      Adjusted EPS: 23.7p (2017: 21.0p)

Source: Bloomberg (10.12.18)

 

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