RM Expects Rise In FY21 Earnings

RM Plc (RM.L), a British supplier of education technology and resources, said in a trading update on Thursday that despite persisting Covid-19 induced headwinds in education sector, it expects full-year adjusted results to be in line with market expectations.

According to the current market projections, Abingdon-headquartered company is expected to post an adjusted profit before tax at 16.4 million pounds, compared with 13.4 million pounds, reported for the year-ended in November 2020.

The company's net debt as on November 30 is expected to remain below 20 million pounds, the company said in a statement.

The company also noted that a recovery from Covid-19 induced headwinds will take time to work through the sales pipeline, primarily in the Group's education and results divisions.

Commenting on the fiscal ended in November, the company added, "RM Resources UK performance was particularly encouraging with schools and nurseries."

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