logo
  

RM Plc Sees FY Operating Profit Significantly Lower Than Forecast; Revenues In Line With Market View

RM plc (RM.L) issued an update on current trading with respect to the 12-month period ending 30 November 2022. The Group said its revenues remain positive with both RM Assessment and RM Technology expected to deliver revenue growth in the year. RM Resources, however, has experienced a slower than expected recovery in the Consortium brand resulting from on-going challenges following the IT implementation, the Group noted. RM plc expects operating profit in the current year to be significantly lower than forecast.

Neil Martin, CEO, said: "The challenges associated with the IT implementation have been material and impacted our short-term priorities and financial performance. We remain focused on delivering a plan to put the business back on a solid footing that will deliver longer term value for all our stakeholders."

The Group noted that its near-term focus continues to be on managing debt levels and reducing underlying operating costs. Net debt at the end of the year is projected to be slightly higher than at the half year which reflects the positive cash generation in the second half of the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Drug major Pfizer Inc. reported Tuesday higher earnings in its fourth quarter, above market estimates, and an all-time high revenues in its fiscal 2022. Meanwhile, the company projects sharply lower adjusted earnings and revenues in its fiscal 2023, below Wall Street estimates, reflecting projected decline for COVID-19 products. In pre-market activity on the NYSE, Pfizer shares were losing around Oil major Exxon Mobil Corp. (XOM) reported Tuesday that fourth-quarter net income was $12.75 billion or $3.09 per share, up from $8.87 million or $2.08 per share in the prior-year quarter. Excluding special items, adjusted earnings were $3.40 per share, compared to $2.05 per share in the prior-year... La Mirada, California-based Daiso California LLC is recalling certain Matsunaga Mini Shiruko Sand Biscuits citing undeclared soy, an allergen, the U.S. Food and Drug Administration said. The recall incolves Matsunaga Mini Shiruko Sand Biscuits with sku 4902773016966, packaged in four pink and cream bags chained together. Each individual serving is 25g for an entire product weight of 100g.
RELATED NEWS
Follow RTT