RM delivers strong H1 and looks beyond UK for future growth

Despite the fear of cuts in education budgets RM has reported an increase in half year profits and indicated it expects the market to remain healthy in H2. Growth in the educational resources business helped improve the numbers for the six months ended 31 March and a partnership with Lego Education

Despite the fear of cuts in education budgets RM has reported an increase in half year profits and indicated it expects the market to remain healthy in H2.

Growth in the educational resources business  helped improve the numbers for the six months ended 31 March and a partnership with Lego Education is expected to help keep profits on track for the rest of the fiscal year.

Revenues for the first six months increased by 10% to £156.4m and profits rose from £1m in the same period last year to £1.2m.

Terry Sweeney, chief executive of RM, said that it's long-term committed revenues were £505,, including seven new Building Schools for the Future (BSF) contracts.

He added that although the education market was impacted by seasonal changes "sales momentum continues across the business and we have seen good progress in each of our divisions. We anticipate further progress in the second half and growth for the year as a whole".

In response to the potential threat of government cuts Sweeney said that it was looking to increase its growth in international markets

"Over the last five years we have broadened the range of education products and services we sell, significantly increased our international footprint, and built a substantial order book," he added.

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