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UKHotViews©

 

Thursday 07 December 2017

RM trading ahead of expectations

RMRM the education specialist, expects results for FY2017 to be ahead of expectations siting progress made in the second half of the year on a number of fronts.

RM acquired the education and care business of the Connect Group earlier this year. As we suggested at the time synergies between RM’s Resources division and Connect were likely to be strong with RM able to improve its position in the secondary school education resources market and thus take a greater chunk of school consumables spending (RM acquires Connect Group’s education business for £56.5m). Today’s trading update shows that synergies are now expected to exceed the original £2m.

RM is making progress across its three divisions – RM Resources benefited from organic growth in the second half of the year (in contrast to H1), performance at RM Education (SITS) has held up following its 2016 restructuring and RM Results (e-assessments) was trading in line with expectations, having had a good summer.

UK schools remain a tough market in which to operate, struggling with a decline in funding per pupil and uncertainty about future funding settlements. The decision to be bold earlier in the year and make its largest acquisition to date appears to be delivering for RM.

Posted by Marc Hardwick at '09:08' - Tagged: education  

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