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Articles about Terry Sweeney

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RM chief exec Sweeney steps down

RM chief Terry Sweeney is stepping down amid a company-wide restructure after 13 years of service at the education supplier. The LSE-listed firm is flogging parts of the operation, with the trade and assets of US arm Computrac – a classroom products biz – to be offloaded to Troxell Communications for £3m. The remaining software …
Paul Kunert, 25 Oct 2011

RM revenue declines in face of UK.gov slash fest

School tech provider RM is still struggling with a "subdued" market, following the UK government's recent allocation of education funds. The company said in a pre-close update this morning that revenue in the first half of its fiscal year, which ends on 31 March 2011, would be down on 2010's H1 figures. Terry Sweeney, RM's boss …
Kelly Fiveash, 31 Mar 2011
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Schools IT supplier RM swings to full year loss after sales dive

Ailing specialist education IT supplier RM has admitted it reacted too slowly to government budget cuts in schools after revealing massive losses in fiscal 2011 ended 30 November. The firm posted a loss before tax of £23.4m for the 14 months to nOVEMBER 2011 – including restructuring costs and excess property provisions. This …
Paul Kunert, 06 Feb 2012
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RM reports first-half loss, nasty sales dip

Education technology provider RM saw revenue decline 15 per cent in the first six months of the company's fiscal year. Sales fell to £133m for the period ended 31 March, compared to £156.4m for the same H1 in 2010. It was also hit with a first-half pre-tax loss of £1.4m, after restructuring charges of £1.8m and a £1.2m charge …
Kelly Fiveash, 16 May 2011
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RM threatens to axe 300 staff

RM has told up to 300 staff that their necks are on the line following the completion of last month's strategic review. The cost-cutting programme is in response to plummeting education ICT budgets, which sources estimate are down in some cases by as much as 50 per cent. Specialist education supplier RM has already parted with …
Paul Kunert, 03 Nov 2011
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Subdued RM says government cuts challenge its business

IT schools supplier RM has blamed the government's allocation of education funds for what it described as "subdued" market conditions. The company issued an interim management statement this morning in which it said it expected to see a decline in UK Learning Technologies sales in the 12-month period to September 2011. " …
Kelly Fiveash, 10 Feb 2011
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RM says schools still buying its boxes

RM, which sells to schools, said sales for the year ended 30 September were up 10 per cent on last year, and profits grew 12 per cent. Revenue was up from £346.9m in 2009 to £380.1m in 2010 and profit was up from £17.7m in 2009 to £19.9m this year. RM shares were up over five per cent in response to the third successive year of …
John Oates, 22 Nov 2010
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RM sees sunny forecast thanks to busiest ever summer

The educational software and services supplier RM has seen trading in line with expectations so far this year. It reiterated the comments first made in May, which said that the company expects revenue to grow in FY-2009, thanks in large part to its participation in a number of Building Schools for the Futre (BSF) programmes. RM …
Kelly Fiveash, 22 Sep 2009

RM boss says school's out forever

RM yesterday announced that its head teacher honcho has resigned after more than 25 years with the computer supplier. The firm, which specialises in software, services and systems for the UK education market, said that chief executive Tim Pearson will step down from his role to be replaced by current group managing director …
Kelly Fiveash, 10 Jun 2008
globalisation

RM buddies up with Tesco on new voucher scheme

UK schools computer supplier RM has bagged a partnership deal with Tesco for the retail giant’s forthcoming voucher collection scheme which kicks off in 2009. Tesco has merged into one catalogue its two voucher schemes - Computers for Schools and Sport for Schools and Clubs - that were previously supported by RM. Under the new …
Kelly Fiveash, 22 Jul 2008
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RM sees interim revenues, profit jump

RM shares rose four per cent this morning after the education IT vendor announced a 21 per cent increase in revenue for the six months ended 31 March 2009. The firm reeled in adjusted first half pretax profit of £0.2m on sales of £141.9m for the period. RM said the company would jack up its dividend by five per cent to 1.32 …
Kelly Fiveash, 11 May 2009
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RM gets fingers into school biometrics market

RM has grown another tentacle with the acquisition of education technology supplier Orchard Partners Ltd. The firm, which trades as EasyTrace, has been bought by RM for a total consideration of up to £2.8m. UK schools computer supplier RM will initially pay £1m in cash and £1.3m in loan notes redeemable after more than two …
Kelly Fiveash, 31 Jul 2008
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RM profits dip in 'resilient' market

RM saw profit drop by nearly £3m for the year ended 30 September 2008, but the company said its results were in line with expectations for the year. The IT education supplier announced its prelims today in which it said pre-tax profit declined to £15.39m from £18.43m in 2007. It pulled in total revenue for the year of £289.47m …
Kelly Fiveash, 24 Nov 2008
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RM kisses wannabe American cousin

RM has bought US-based education technology provider Computrac for £8m. The firm said in a statement today that the company will be integrated with the RM Educational Software Inc arm of the biz, which is the group’s US subsidiary. Computrac designs, supplies and installs interactive classroom tech products including …
Kelly Fiveash, 04 Nov 2008