RM posts 21 per cent jump in revenue

Sales at the vendor rise as public spending in education increases

RM is expecting further revenue growth from its education contracts

Educational technology firm RM has reported positive half-year results and has forecast sales worth in excess of £400m on the back of increased public investment in education.

Turnover at the firm rose by 21 per cent to £141.9m for the six months to 31 March, with profits remaining flat on last year’s figure of £200,000.

“The group has a strong balance sheet and is financially conservative, with prudent management of costs and cash,” said chief executive Terry Sweeney.

"However, with the UK education budget for government year 2009/2010 up six per cent in cash terms, and revenue growth anticipated from Building Schools for the Future, [US education specialist] Computrac and general education resources, management expectations for 2009 are unchanged," he said.

The firm’s future strategy will see the extension and broadening of its traditional educational product portfolio, as well as a sharper focus on further international growth.