Business
Full Year Trading Update
Full Year Trading Update.
About this update from Rm Plc
[{"type":"text","content":"\n \n\n\nRM plc (RM.)\n\n\n\nRM plc: Full Year Trading Update09-Dec-2021 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n\n9 December 2021\n\nRM plc FY21 full year trading update\n\nRM plc (\"RM\"), a leading supplier of technology and resources to the education sector, today issues a trading update for the year ended 30 November 2021. \n\nThe Board expects full year adjusted results to be in line with market expectations1. As previously noted, COVID-19 continued to disrupt education in 2021 with exams cancelled and several weeks of partial or complete school closures. Although recovery will take time to work through the sales pipeline, primarily in the Group's Education and Results divisions, RM Resources UK performance was particularly encouraging with schools and nurseries turning to RM's specialist curriculum brand to support their catch-up agenda. \n\nNet debt as at 30 November 2021 is expected to be below £20 million.\n\nNeil Martin, CEO, said: \"Looking at our performance in the period we continue to show resilience, which reflects the hard work and commitment of our people. Our priority remains to ensure we are well positioned to deliver sustainable growth in the future.\" \n\n \n\nIAS 38\n\nFollowing a review of the clarification from the IFRS Interpretations Committee regarding configuration and customisation costs in Cloud Computing Arrangements (Software as a Service) under IAS 38, RM expects that certain costs that were previously being capitalised relating to the Group's digital and automation investment programme will no longer qualify for capitalisation and will instead be expensed. Any such changes once concluded will not affect the amount of cash outflow and will be separately presented in the financial statements for the duration of the project.\n\nThe Group's results for the year ended 30 November 2021 will be released in February 2022. \n\nContacts:\n\nRM plc \n\nNeil Martin, Chief Executive Officer 08450 700 300\n\nMark Berry, Chief Financial Officer \n\nHeadland Consultancy (PR adviser to RM) \n\nStephen Malthouse ([email protected]) 07734 956201\n\nChloe Fra...