RM PLC Full-year trading update (3289H)
December 03 2020 - 2:00AM
UK Regulatory
TIDMRM.
RNS Number : 3289H
RM PLC
03 December 2020
3 December 2020
Full-year trading update
Resilient 2020 performance
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/ 2014. For the purposes of
MAR and Article 2 of Commission Implementing Regulation (EU)
2016/1055
RM plc ("RM"), a leading supplier of technology and resources to
the education sector, today issues a trading update for the
financial year ended 30 November 2020.
The Board expects full year results to be ahead of prior
expectations. Improved trading in Q3 continued during Q4 as UK
education establishments remained open during regional and national
lockdowns. Whilst COVID-19 has impacted some new business
development, RM has won new contracts to deliver end-to-end digital
assessments and school cloud solutions.
The year-end net debt position is expected to be below GBP5m
(2019: GBP15m).
David Brooks, Chief Executive of RM, said:
"We expect the current uncertainty to continue into 2021, with
the short-term impact of COVID-19 on education buying patterns and
the level of schools exams to be taken, continuing to be difficult
to predict.
However, the increased focus on ensuring education systems can
deliver through the pandemic, the resilience RM has shown in 2020
and the longer-term shift to digital enablement in education, means
RM remains well placed to make progress."
The Group's preliminary results for the period ended 30 November
2020 will be released in early February 2021.
Contacts:
RM plc
David Brooks, Chief Executive Officer 08450 700 300
Neil Martin, Chief Financial Officer
Headland Consultancy (PR adviser to RM)
Stephen Malthouse (smalthouse@headlandconsultancy.com) 07734 956201
Chloe Francklin (cfrancklin@headlandconsultancy.com) 07834
974624
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 to 80 countries internationally.
-- RM Results is a leading provider of assessment software,
supporting exam awarding bodies, universities and governments
worldwide to digitise their assessment delivery.
-- RM Education is a market-leading supplier of ICT software,
technology and services to UK schools and colleges.
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END
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