REG-RM plc RM plc: Full Year Trading Update

RMAnnouncement

09/12/2021 07:05

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   RM plc (RM.)
   RM plc: Full Year Trading Update

   09-Dec-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   9 December 2021

                      RM plc FY21 full year trading update

   RM plc  ("RM"), a  leading supplier  of technology  and resources  to  the
   education sector, today  issues a  trading update  for the  year ended  30
   November 2021.

   The Board expects  full year adjusted  results to be  in line with  market
   expectations1.  As  previously  noted,   COVID-19  continued  to   disrupt
   education in 2021  with exams cancelled  and several weeks  of partial  or
   complete school closures. Although recovery will take time to work through
   the sales  pipeline,  primarily  in  the  Group's  Education  and  Results
   divisions, RM Resources UK  performance was particularly encouraging  with
   schools and  nurseries  turning to  RM's  specialist curriculum  brand  to
   support their catch-up agenda.

   Net debt as at 30 November 2021 is expected to be below £20 million.

   Neil Martin,  CEO, said:  "Looking at  our performance  in the  period  we
   continue to show resilience, which  reflects the hard work and  commitment
   of our people. Our  priority remains to ensure  we are well positioned  to
   deliver sustainable growth in the future."

    

   IAS 38

   Following a  review of  the clarification  from the  IFRS  Interpretations
   Committee  regarding  configuration  and  customisation  costs  in   Cloud
   Computing Arrangements (Software as  a Service) under  IAS 38, RM  expects
   that certain costs that were previously being capitalised relating to  the
   Group's digital and automation investment programme will no longer qualify
   for capitalisation and  will instead  be expensed. Any  such changes  once
   concluded will  not  affect  the  amount  of  cash  outflow  and  will  be
   separately presented in the financial  statements for the duration of  the
   project.

   The Group's results for the year  ended 30 November 2021 will be  released
   in February 2022.

   Contacts:

   RM plc

   Neil Martin, Chief Executive Officer     08450 700 300

   Mark Berry, Chief Financial Officer

   Headland Consultancy (PR adviser to RM)

   Stephen Malthouse ( 1 smalthouse@headlandconsultancy.com)  07734 956201

   Chloe Francklin ( 2 cfrancklin@headlandconsultancy.com)   07834 974624

   1 Current consensus  Adjusted Profit  before tax  for the  year ending  30
   November 2021 (FY21) is £16.4m. The prior year comparative is £13.4m. FY21
   and FY20 figures are stated before any adjustments associated with IAS38.

   Notes to Editors

   RM  provides   market-leading  products   and  services   to   educational
   institutions, exam  bodies and  international governments  which  improve,
   enable 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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   ISIN:           GB00BJT0FF39
   Category Code:  TST
   TIDM:           RM.
   LEI Code:       2138005RKUCIEKLXWM61
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   128994
   EQS News ID:    1255726


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:smalthouse@headlandconsultancy.com
   2. mailto:cfrancklin@headlandconsultancy.com


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