Rm Regulatory News (RM.)

28 Mar 2006 07:00

RM PLC28 March 2006 RM plc: pre-close update for the six months ending 31 March 2006 - trading supportive of full-year profit expectations As part of its normal investor relations activities RM plc is issuing an updateon current trading prior to the end of its half-year on 31 March 2006. The Groupexpects to announce its interim results on 15 May 2006; these will be the firstinterim results RM has reported under International Financial ReportingStandards (IFRS). Trading performance in the year so far has been satisfactory and has reinforcedmanagement's confidence in achieving expectations for profit for the year as awhole. Tim Pearson, CEO of RM, commented: 'Our response to challenging market conditions in the first quarter, along withthe increasing maturity of our education projects business, means that weanticipate announcing encouraging first-half results. As is always the case forRM, first-half outcome is not a good indicator for the year as a whole;nonetheless, performance so far positions us well for the challenges of thesecond half. 'Last week's Budget reinforced the government's commitment to education, with anumber of measures including increased direct payments to headteachers. Equallyimportantly for the long-term health of the business, we continue to achievefurther improvement in levels of customer satisfaction and customer success byworking with schools and local authorities to deliver improved educationaloutcomes. The SYeLP project, for instance, is meeting all of its targets and ismaking a significant contribution to improving ICT skills in the South Yorkshiresub-region.' - 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: In its preliminary results announcement for the year ended 30th September 2005(issued on the 21st November 2005), the Group made the following comments aboutfuture prospects: 'As always at this time of our financial year, it is too early in the year tomake any meaningful comment on RM's performance in 2006. However, with Englishhead teachers facing budget pressures as a result of the workforce remodellingprogramme and the introduction of teaching and learning responsibility paymentsfor teachers, the weakness in the market that was evident at the start of thenew academic year has continued into the current financial year. 'As previously mentioned, we are choosing to increase our investment inbusiness-development expenditure to prepare for the opportunities presented byBSF. We believe that this is in the long-term interests of shareholders;however, it will hold back profit growth in 2006.' RM issued information about the transition to IFRS on 14 December 2005; thistransition information is available at www.rm.com/investors Full IFRScomparative data for the first half of 2005 will be provided in the Group'sinterim results statement. The RM Group is a leading provider of educational products and services toschools, colleges and universities, local government and central governmenteducation departments and agencies. Founded in 1973, RM works closely witheducationalists to use new products, processes and technology to improveteaching and learning and is recognised as a leading innovator in theeducational information and communications technology (ICT) arena. This information is provided by RNS The company news service from the London Stock Exchange