RM PLC Trading Update (5967Y)
December 07 2017 - 2:00AM
UK Regulatory
TIDMRM.
RNS Number : 5967Y
RM PLC
07 December 2017
7 December 2017
Trading Update
The Board of RM plc ("RM") expects results for the financial
year ended 30 November 2017 to be ahead of expectations.
RM Resources benefited from organic revenue growth in the second
half and RM Education experienced a resilient performance following
the 2016 restructuring. RM Results was in line with management
expectations, having had a strong summer delivery.
Net debt at the year-end was GBP13.4m following the acquisition
of The Consortium in June 2017 (2016: net cash and cash equivalents
GBP40m).
Good progress is being made with the integration of The
Consortium and better synergies coupled with more scope for
operational efficiencies are now expected to realise benefits ahead
of the initial expectations of GBP2m pa. Agreement has also been
reached with the Trustees of the Consortium Care defined benefit
pension scheme with regards to the triennial valuation as at 31
December 2016 at a deficit of GBP4.2m, with a recovery plan of
GBP379,000 per annum over the next ten years.
The Group's Preliminary results for the period ended 30 November
2017 will be released in February 2018.
Contacts:
RM plc 08450 700 300
David Brooks, Chief Executive Officer
Neil Martin, Chief Financial Officer
FTI Consulting 020 3727 1000
Jamie Ricketts / Elena Kalinskaya
Notes to Editors
RM plc is a leading education resources, IT software and
services group, operating through three divisions:
-- RM Resources: providing education resources used in schools in the UK and internationally
-- RM Results: providing IT software and e-Assessment services
to enable e-marking, e-testing and the management and analysis of
educational data
-- RM Education: a UK focused business supplying ICT software
and services to schools and colleges
This information is provided by RNS
The company news service from the London Stock Exchange
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