Founded in 1973, develops IT solutions for students, administrators, teachers, management teams and other education providers which require bespoke solutions.

"We deliver an extensive range of innovative and award-winning products and services - all carefully designed or selected to meet the specific needs of UK education."

http://www.rm.com/home

StockMarketWire.com
RM Plc has booked a FY statutory after-tax profit of £11.6m, from £15.0m, on lower revenue but with an improved dividend as it unveiled the proposed acquisition of Connect Group's Education & Care business.

RM's revenue fell 6% to £167.6m, but it hiked its paid and proposed dividend to 6p a share, up 20% from 5p.

The reduction in after-tax profit was primarily due to a property provision release of £2.4m in the prior year and a £2.1m charge in 2016 for restructuring and acquisition costs.

CEO David Brooks said 2016 was another year of delivering a solid set of results, in which RM had reported improved profitability and increased operating margins.

"We are also pleased to have announced the proposed acquisition of the Education & Care business of Connect Group," he said in a statement, noting a purchase price of £56.5m on cash- and debt-free basis.

"This acquisition, in combination with our existing RM Resources operation, would provide a number of strategic and operational benefits."

RM would also assume Education & Care's pension schemes, which reported a combined net liability of £7.9m

CMA CLEARANCE
On 7 February 2017, RM announced the proposed acquisition of the Education & Care business of Connect Group PLC (the "Acquisition").

The Company is pleased to note that the Competition and Markets Authority has earlier today announced that it has unconditionally cleared the Acquisition.

Accordingly, the Company expects the Acquisition to complete on or around 30 June 2017.

A further announcement will be made in due course.

StockMarketWire.com
RM expects results for the financial year ended 30 November 2017 to be ahead of expectations.

RM Resources benefited from organic revenue growth in the second half and RM Education experienced a resilient performance following the 2016 restructuring.

RM Results was in line with management expectations, having had a strong summer delivery.

Net debt at the year-end was £13.4m following the acquisition of The Consortium in June 2017.

RM said good progress is being made with the integration of The Consortium and better synergies, coupled with more scope for operational efficiencies, are now expected to realise benefits ahead of the initial expectations of £2m a year.

An agreement has also been reached with the trustees of the Consortium Care defined benefit pension scheme with regards to the triennial valuation as at 31 December 2016 at a deficit of £4.2m, with a recovery plan of £379,000 per annum over the next ten years.

StockMarketWire.com
Education technology provider RM boosted its annual profit by 10.3% on the back of rising sales.

Net profit for the year through December rose to £12.9m as revenue increased by 10.9% to £185.9m.

The company declared a final dividend of 6.60p, up 10% on the previous year.

'Going forward, despite the continued subdued UK Education market, 2018 has started in line with our expectations and we are confident of a year of good progress,' chief executive David Brooks said.