RM HY Profit Rises

RM plc (RM.L), a supplier of technology and resources to the education sector, reported that its profit for the six-month period ended 31 May 2021 rose to 4.72 million pounds or 5.6 pence per share from 1.51 million pounds or 1.8 pence per share in the previous year.

Adjusted profit before tax was 7.6 million pounds, up from 3.5 million pounds in the prior year.

Group revenue increased by 21% to 96.1 million pounds from last year's 79.3 million pounds driven by strong trading in RM Resources which recovered quickly following the re-opening of UK schools in March.

The Board proposes to pay an interim dividend of 1.7 pence per share. No interim dividend was paid in 2020 and a final dividend of 3.0 pence was paid for the year ended 30 November 2020. The 2021 interim dividend will be payable to shareholders with an ex-dividend date of 22 July 2021.

The company noted that trading has been resilient in the first half of the year and RM is in a strong financial position, with lower net debt than at the same point last year and a track record of generating positive operating cash flows.

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