RM sees interim revenues, profit jump
City follows suit
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 pence, and added its outlook for the full year remains on course.
“As we always comment at this stage, the first half of RM's financial year is not a good indicator of results for the year as a whole,” noted RM boss Terry Sweeney.
“However, with the UK education budget for government year 2009/10 up 6 per cent in cash terms, and revenue growth anticipated from BSF, Computrac and general education resources, management's expectations for FY-2009 are unchanged.”
Shares in the firm are currently trading at 148.5 pence, up 4.58 per cent, on the London Stock Exchange. ®