The AGM of RM plc ("RM"), a leading supplier of technology and resources to the education sector, will be held today at 11.30am. At the meeting, John Poulter, Chairman, will make the following statement:
"The first quarter trading performance has been impacted by the closure of schools and the cancellation of 2021 school examinations in the UK and Ireland. The effect of this nationwide lockdown in RM Resources has been less significant than experienced in the prior year as the numbers of pupils physically in school has been higher and trading has recovered quickly since the reopening of schools.
The situation remains uncertain as a result of COVID-19 but the Group was profitable in the first quarter and remains in a robust financial position with net debt as at 28 February 2021 of £13.3m (February 2020: £30.0m) against a committed credit facility of £70m."
Neil Martin, Chief Executive Officer
08450 700 300
Mark Berry, Chief Financial Officer
Headland Consultancy (PR adviser to RM)
Notes to Editors:
Consensus 2021 revenue estimate is £194.5m (vs. £189.0m in 2020), adjusted EBIT £16.5m (vs. £14.4m) and adjusted EPS 14.2p (vs. 13.0p).
RM is a UK listed company, providing market-leading products and services to educational institutions, exam bodies and international governments which improve, simplify and support education and learning.
Technology is transforming Education, and RM is well positioned to capitalise on this through its three divisions:
RM Resourcesis the established provider of education resources for early years, primary schools and secondary schools across the UK and internationally. Our trusted brands, TTS and Consortium, develop and supply resources to help bring the curriculum to life for teachers and students across over 80 different countries.
RM Resultsis a leading provider of digital assessment services, enabling e-marking,e-testing and the management and analysis of educational data. RM Results typically marks approximately 200 million exam pages, working with exam awarding bodies, universities and governments.
RM Educationis a market-leading supplier of ICT software, technology and services in the UK. It helps schools save time and money and enables them to enhance the impact of technology on teaching and learning.