RM plc: Annual General Meeting Statement

7th April 2022

RM

Annual General Meeting Statement

The AGM of RM plc ("RM"), a leading supplier of technology and resources to the education sector, will be held today at 11:30am. At the meeting, Helen Stevenson, Chairman, will make the following statement: 

"The first quarter of 2022 has provided a challenging backdrop, in particular the inflationary and supply chain environments. Whilst we remain mindful of the uncertain economic conditions, the full-year outlook for the Group remains unchanged.

RM's net debt as at 31 March 2022 is £39m (March 2021: £10m) reflecting normal operating cash outflows and the previously announced step-up in investment into the two capital programmes - the consolidation of five distribution centres into a single automated facility and the implementation of a new group-wide IT platform, both of which are planned to complete this year.

At our full-year results, we outlined our intention to invest to establish a clear path to sustainable organic growth. The leadership team is progressing against that plan but as stated previously, it will take time to unlock growth and realise the full benefits."

Contacts:

Notes to Editors:

RM provides market-leading products and services to educational institutions, exam bodies and international governments which improve, simplify and support education and learning.

The education sector is transforming, and RM is well positioned to capitalise on this through its three divisions.

RM Resources is the established provider of education resources for early years, primary schools and secondary schools across the UK and to 80 countries internationally.

RM Assessment is a leading provider of assessment software, supporting exam awarding bodies, universities and governments worldwide to digitise their assessment delivery

RM Technology is a market-leading supplier of ICT software, technology and services to UK schools and colleges