11th Dec 2018 09:52
LONDON (Alliance News) - Education-focused technology services provider RM PLC said on Tuesday it expects its performance for the year to the end of November to be slightly ahead of market expectations.
Revenue for the year ended November 30 is set to rise significantly from the year before, due to a full-year contribution from the acquisition of Consortium in February 2017, as well as international sales growth.
Divisions RM Resources and RM Results both saw organic revenue growth during the period while the RM Education segment's profit margin returned to double-digit levels, due to cost improvement initiatives.
Consensus expectations cited by RM from Bloomberg forecasts revenue for the year to rise to GBP215.5 million from GBP185.9 million the year before, while adjusted earnings before interest and tax is estimated to rise to GBP26.0 million from GBP21.3 million.
"Its encouraging to see the group's further progress and the positive performance in all three divisions," said Chief Executive David Brooks.
Shares in RM were up 10% at 202.50 pence on Tuesday.
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