Last checked at 9 Sep 2020 07:00
9 September 2020
Q3 Trading Update
RM plc ("RM"), a leading supplier of technology and resources to the education sector, today issues a trading update.
Trading started to improve following the partial reopening of schools and colleges in June and that improvement has continued through the summer months. RM was profitable in FY Q3, including provision for the repayment of the amounts received under the Government furlough scheme and continues to manage its financial resources closely, ending the period with net debt of £11million.
While it remains early in Q4, and uncertainty continues regarding the impact of COVID-19, the performance in Q3 and the return of all pupils to UK schools and colleges has given the Board greater clarity over the expected full-year performance and it now anticipates that all three divisions will be profitable in the current financial year.
David Brooks, Chief Executive of RM said:
"RM has shown its resilience and is in a strong position to support evolving education systems."
[The Group's Preliminary results for the period ended 30 November 2020 will be released in early February 2021.]
RM plc |
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David Brooks, Chief Executive Officer Neil Martin, Chief Financial Officer | 08450 700 300 |
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Headland Consultancy (PR adviser to RM) |
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Stephen Malthouse(smalthouse@headlandconsultancy.com) Chloe Francklin (cfrancklin@headlandconsultancy.com)
Abena Affum (aaffum@headlandconsultancy.com) | 07734 956201
07834974624
07799 088801 |
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Notes to Editors:
RM provides market-leading products and services to educational institutions, exam bodies and international governments which improve, simplify and support education and learning.
The education sector is transforming and RM is well positioned to capitalise on this through its three divisions:
· RM Resources is the established provider of education resources for early years, 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 a leading provider of digital assessment services, enabling e-marking, e-testing and the management and analysis of educational data. RM Results typically helps digitise over 13 million exams a year, working with exam awarding bodies, universities and governments.
· RM Education is a market-leading supplier of ICT software, technology and services in the UK. It helps schools and colleges save time and money and enables them to enhance the impact of technology on teaching and learning.