Education supplier RM comes up with “satisfactory” results

RM chief executive Neil Martin said his outfit came up with “satisfactory” sales results in 2021.

Martin said that in the face of ongoing challenges in the education sector sales jumped 12 percent and revenue was £210.9 million for the full year ending 30 November 2021.

During the same period last year the company’s results were £189 million.

Adjusted operating profit grew 22 percent to £18.5 million but statutory profit after tax was down 45 percent, which RM said was due to “£8.3 million of investment programme costs expensed following a change in accounting treatment”.

Martin said: “RM delivered a satisfactory financial performance in another year impacted by COVID-19.”

“While the current environment remains uncertain, market trends are developing positively for the longer-term outlook of RM. This has been an important year strategically as we acknowledge a need to adapt if we are going to fully capitalise on the supportive structural opportunities and deliver sustainable growth.

“We refreshed our strategy to sharpen our focus and have made good early progress including a number of key leadership appointments across the group. This is an exciting time to be involved in education and I continue to be impressed by the commitment and passion of our colleagues and their desire to improve educational outcomes for our customers.”