Rm Regulatory News (RM.)

21 Sep 2006 07:01

RM PLC21 September 2006 21 September 2006 RM plc: pre-close update for the year ending 30 September 2006 - trading consistent with full-year profit expectations As part of its normal programme of communications with shareholders, RM isissuing an update on current trading prior to the end of its financial year on30 September 2006. Trading during the year so far, including the peak summer selling season, hasbeen consistent with management's expectations for profit for the year as awhole. Revenue for the year is likely to be similar to that in 2005, with growthin the Group's education projects business offsetting the previously reportedbudget pressures in the individual schools market. Customer satisfaction, theGroup's key non-financial performance indicator, is likely to exceedmanagement's target and show a significant increase on last year. Tim Pearson, CEO of RM, commented: "At the beginning of the year we reported that we'd put in place a plan torespond to tough conditions in some of our markets. I'm pleased to report thatour rapid response to these conditions, combined with our growing educationprojects business, mean that we anticipate reporting profits in line withexpectations for the year. "It's very pleasing that we are achieving this progress whilst maintaining amajor investment in bidding for education project business. We recentlyannounced further success in the Building Schools for the Future programme withour appointment as preferred bidder for a major BSF ICT contract withStoke-on-Trent City Council. "This week will also see the demonstration of early-stage functionality of'Glow' at the Scottish Learning Festival in Glasgow. Glow, which was previouslyknown as the Scottish Schools Digital Network, will provide a highly innovativeonline learning service throughout Scotland. The project continues to make goodprogress and we expect to launch it in mid-2007." - Ends - For further information, please contact:Mike Greig/Phil Hemmings, RM plc 08709 200200 Fiona Laffan/Mark Antelme, Brunswick 020 7404 5959 Notes to Editors: RM expects to announce preliminary results for the year towards the end ofNovember 2006. RM's business is seasonal, with schools' purchasing patterns meaning that themajority of revenue and an even greater proportion of profit occur in the secondhalf of the year. Founded in 1973, the RM Group is a leading provider of educational products andservices to schools, colleges and universities, local government, and centralgovernment education departments and agencies. Recognised as a leading innovatorin the educational information and communications technology (ICT) arena, RMworks closely with educationalists to create new products, processes andtechnology which improve teaching and learning. This information is provided by RNS The company news service from the London Stock Exchange