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RM Plc proposes to increase Full year dividend as revenue progresses

RM Plc proposes to increase Full year dividend as revenue progresses

Tue 5 Feb 2019 07:17 by ukcitymedia.co.uk about : trading updates - 0 Comments - 2238 words


RM plc ("RM"), a leading supplier of technology and resources to the education sector, reports its final results for the year ended 30 November 2018.

 

Operational highlights

·      Revenue growth of 19% benefiting from full year revenues from the acquisition of the Consortium with 2% organic** growth

·      International revenue growth of 30% driven by RM Results (+28%) and RM Resources (+41%)

·      Good progress in all three divisions

o  RM Resources increased revenues by 45% including full year benefit of the acquisition and strong international sales growth

o  RM Results won 7 new contracts in target markets

o  RM Education improved operating margins to 11.6%

·      Adjusted* operating profits increased by 29% with growth across all three divisions delivering increased operating margins

·      Strong cash generation reduced net debt to £5.8m

·      Full year proposed dividend increased by 15% to 7.60p

 Commenting on the results, David Brooks, Chief Executive of RM, said:

 

 "This has been a successful year for RM across all three divisions, which saw organic revenue growth for the Group. In RM Resources we completed the first full-year of integration of the Consortium acquisition successfully, won seven new contracts in RM Results and delivered double digit operating margins in RM Education.

 

Looking ahead, we are confident of progressing in each of our chosen market sectors building on the strong platform we have established."

 

 

 

Notes to Editors:

 

RM plc is a leader in the education sector, providing support throughout the stages of education with its three focused divisions:

 

·      RM Resources is an established provider of education resources for early learning centres, primary schools and secondary schools across the UK and internationally. Our brands, TTS and Consortium, develop and supply resources to help bring the curriculum to life for teachers and students.

 

·      RM Results is a world-leading provider of e-Assessment services, enabling e-marking, e-testing and the management and analysis of educational data.  RM Results marks approximately 200 million exam pages, working with prominant exam providers, professional bodies, universities and governments.

 

·      RM Education is a market-leading supplier of ICT software, technology and services in the UK. It helps schools save time and money, create a secure environment and enables them to enhance teaching and learning.

 

* Adjusted operating profit is before the amortisation of acquisition related intangible assets; GMP pension equalisation costs on defined benefit schemes; acquisition related costs; net increase of provisions for onerous lease contracts and restructuring costs.

 

** Organic revenue growth represents growth excluding all revenues sold through Consortium in 2017

 

*** The expected timetable for the final dividend and Annual General Meeting is as follows:

Ex-dividend date for 2018 final dividend (5.7 pence per share)

14th March 2019

Record date for 2018 final dividend

15th March 2019

AGM

27th March 2019 at 11.30a.m.         

Payment of 2018 final dividend

12th April 2019

References to times are to Greenwich Mean Time. If any of the above times or dates should change, the revised times and/or dates will be notified to shareholders by an announcement on a Regulatory Information Service. Payment of the 2018 final dividend is subject to the approval by shareholders.

 

 



These articles are summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


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