RM signals forecast-busting final results

RM updated the market on its trading on Tuesday, reporting that it expected results for the financial year ended 30 November to be slightly ahead of expectations.

The London-listed company said group revenues increased “significantly” on the prior year, driven by the full-year benefit of the consortium acquisition and strong international sales growth.

It said RM Resources and RM Results both showed organic revenue growth, while RM Education benefited from cost improvement initiatives, enabling its profit margin to reach double digit levels.

Net debt reduced at the year-end by £7m to £6m.

“It's encouraging to see the group's further progress and the positive performance in all three divisions,” said chief executive David Brooks in a short statement.

RM said its preliminary results for the period ended 30 November would be released in early February.