The Channel logo

News

By | Kelly Fiveash 24th November 2008 10:58

RM profits dip in 'resilient' market

Education, education, education

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, up from £270.9m in its prior fiscal year.

Adjusted pre-tax profit was £16.4m, compared to £15.5m in 2007. Adjusted earnings per share also rose from 12.3 pence a year ago to 13.0 pence.

Despite the profit decline, the RM Board recommended an increase in dividend by six per cent to 5.81 pence per share, subject to approval at the company’s AGM.

RM boss Terry Sweeney, who has been on a considerable acquisition speeding spree in recent months, described the UK IT education market as “resilient” and said that the company’s customers are “not directly affected by current economic conditions”.

Earlier this month RM bought US-based education technology provider Computrac for £8m.

RM shares are currently trading at 153.00 pence, down 2.55 per cent on the London Stock Exchange. ®

comment icon Read 4 comments on this article alert Send corrections

Opinion

Photo of HP Enterprise office
Apple Mac Mini late 2014

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears

Features

Venomous snake
Potential deleterious effects more like a snakebite* than a snake bite
Windows Server
Hacked US CENTCOM Twitter account
Roll up, roll up, get your exclusive market insights