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RM Plc FY Pretax Profit Declines; Organic Revenues, Excl. Item, Down 6%

RM plc (RM.L) reported statutory profit before tax of 14.6 million pounds for the year ending 30 November 2017 compared to 15.1 million pounds, prior year. Profit for the year increased to 12.8 million pounds or 15.7 pence per share from 11.6 million pounds or 14.4 pence per share. Adjusted earnings per share was 21.9 pence compared to 17.4 pence, prior year.

Fiscal year Group revenue increased 11% to 185.9 million pounds from 167.6 million pounds, supported by the acquisition of The Consortium, which contributed 27.8 million pounds. Organic revenues, excluding the benefit of the acquisition, declined 6% to 158.1 million pounds from 167.6 million pounds.

The total dividend paid and proposed for the year has been increased by 10% to 6.60 pence per share. This is comprised of the interim dividend of 1.65 pence per share paid in September 2017 and, subject to shareholder approval, a proposed final dividend of 4.95 pence per share. The Board said it is committed to a long-term sustainable dividend policy with the objective of a dividend cover of between two to three times adjusted earnings per share over the medium-term.

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