15th Jul 2025 13:15
(Alliance News) - RM PLC on Tuesday said it remains confident in meeting full-year expectations for adjusted operating profit and earnings before interest, tax, depreciation and amortisation, as the firm reported a narrower first-half loss and progress on margin improvement.
For the six months to May 31, the Abingdon, England-based supplier of technology and resources to the education sector reported a pretax loss of GBP4.3 million, narrowing from GBP6.6 million the year prior.
Revenue fell 6.5% to GBP73.2 million from GBP78.3 million, due to pressure on UK school budgets and US tariffs affecting its TTS supplies division, the firm said.
Adjusted operating profit swung to GBP900,000 from a loss of GBP300,000 in 2024, while adjusted Ebitda excluding share-based payments rose 46% to GBP3.5 million from GBP2.4 million.
Assessment revenue increased, with RM noting 19% higher income on-year for its core assessment platform. The order book also increased to GBP106.6 million from GBP95.7 million, boosted by wins such as Trinity College and renewals in Singapore and Australia.
RM said it remains seasonally weighted to the second half and expects continued Assessment growth to offset declines in TTS and Technology by year-end. The company is moving forward with legal and operational separation of its three divisions to enhance strategic flexibility and unlock further cost savings.
Chief Executive Officer Mark Cook said: "We are building real momentum. Our profitability has improved further, driven by stronger margins and the benefits of our cost-saving initiatives."
Adjusted net debt increased to GBP59.6 million from GBP52.7 million. RM said this was the result of investment in the Ava assessment platform, launched in June.
RM shares rose 1.0% to 98.50 pence in London on Tuesday afternoon.
By Eva Castanedo, Alliance News reporter
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