Record profit at RM

22nd Nov 2010 08:11

Education solutions provider RM reported record full year profit as growth continues in each of its three divisions. Pre-tax profit rose to £24m for the year to 30 September 2010 from £16.3m the year before. Revenue increased to £380.1m from £346.9m the year before. RM said its enters 2011 well positioned for the future both in the UK and internationally.Chief Executive Terry Sweeney commented, "Looking ahead, clearly the UK public sector is in a period of significant funding and policy change. However, the overall funding environment for schools is better than many anticipated and shows modest real-terms growth over the next four years.""RM has a long track record of responding positively to changes in UK education policy. Internationally, we continue to see plenty of opportunity for RM product and services."RM said it approaches the year end with confidence as it sees continued growth in its higher margin segments and as it applies greater focus on cost control.