RM slumps after profit warning

29th Sep 2011 09:10

Educational software supplier RM has warned that full year results will fall short of expectations after the usually strong seasonal uplift in the second half failed to materialise.RM said that in previous years, about 60% of revenues were generated in the second half of the year."However, whilst the group has experienced some seasonal increase in the current year, this has been lower than the historic trend," the company said."As a result, for the 12 months to 30 September 2011, the board anticipates operating results below current analyst forecasts." It added that it will incur charges related to a strategic and operation review of the company.Among the changes the company is making is a 13% reduction to its headcount from levels in July.At 9.20am, shares in RM were down by 31.75p at 69p.