Educational IT and resources group RM has announced strong financial and operational performance in the first six months of its financial year to 31 May, 2014.
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The information comes in a trading update released to the London Stock Exchange and follows a decision made in October last year to bring to a halt the manufacture and sale of personal computing devices, and the initiation of a restructuring plan.
The company now says that its restructured Education Technology division is performing better than expected with higher revenues from hardware sales, better inventory ‘realisations’ and lower than expected costs.
It says that both the Education Resources division and its Assessment and Data Services division are growing organically with healthy margins and as a result, it has adjusted operating profit for the first six months of its financial year indicating will be higher than the same period the previous year.
Consequently, adjusted operating profit for the year to 30 November 2014 will also be higher than expected. RM adds that the annual seasonal bias of profit in the second half of the year will be less pronounced than the previous year.
The company plans to release its interim results in early July 2014.