Education resource maker RM posts soaring revenue as schools hope to dodge future closures
Education technology supplier RM has posted £210.9m revenue, despite schools continuing to be disrupted by Covid in the period.
In preliminary results for the year ended 30 November 2021, the group posted a revenue jump of 12 per cent on 2020 levels.
Statutory profit after tax was £4.2m, down 45 per cent on the year before.
Schools faced restrictions last year due to Covid but after the easing of measures, the sector is confident moving forward.
Neil Martin, chief executive of RM, 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”.