RM PLC

Business and Financial Review • Sep 18, 2013

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RNS Number : 2502O

RM PLC

18 September 2013

18 September 2013 

RM plc

Interim Management Statement

Trading update

RM is today issuing its Interim Management Statement for the period from 1 June 2013 to 17 September 2013.

Trading in the third quarter (Q3) of RM's 2013 financial year has continued to progress satisfactorily. Good operational performance over recent months on managed services contracts (including Building Schools for the Future) within the Education Technology division provides support for a significantly stronger second half than was anticipated at the time of the announcement of the half year results.

Also within the Education Technology division, RM has signed a new seven year ICT Managed Services contract with South Lanarkshire Council which extends RM's long standing relationship with an important customer. The division has also been awarded preferred bidder status to provide the RM Unify platform across all schools in Scotland for a further two years.

At TTS, the dominant business within the Education Resources division, revenue has been relatively stronger in recent months compared to early months of the year. As reported in RM's interim statement on 8th July, due to changes in the scheme, TTS expects minimal revenue in the second half of the year from the significant corporate and social responsibility programme sponsored by a major UK Group which represents over 10% of annual divisional revenue.

RM Assessment and Data Services has been awarded preferred bidder status under a new procurement for the English Schools Performance Data Programme to 2018, with an option to extend to 2020.

Net cash at 31 August 2013 increased to £38.3m, compared with £13.2m a year earlier.

Contacts

RM plc                                                            08450 700300

David Brooks, Chief Executive Officer          

Iain McIntosh, Chief Financial Officer

FTI Consulting                                              020 7831 3113

Sophie McMillan/Tracey Bowditch

This information is provided by RNS

The company news service from the London Stock Exchange

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