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RM sees TTS demand fall but hikes divi

22 March 2017 14:26

RM said The continued uncertainty over UK school funding is leading to caution around discretionary expenditure, with demand for the curriculum specific products which TTS provides down more than expected.

However, the Company confirmed that trading in the first quarter in TTS's International business continued its positive trend.

Nevertheless, the Board is recommending a final dividend of 4.50p per share which, together with the interim dividend paid in September 2016, constitutes a total dividend for the year ended 30 November 2016 of 6.00p, an increase of 20% over the prior year.

In March, RM Results extended the contract with the Department for Education for the School Performance Tables until March 2019 and also signed a 5 year framework agreement to provide a Global Assessment Platform for Oxford University Press.

As previously announced, the proposed acquisition of Connect Group Education and Care business has been voluntarily notified to the Competition and Markets Authority (CMA). The CMA's formal Phase 1 review process is expected to commence shortly, after which it will have 40 working days to confirm the outcome of its initial review. A further announcement will be made at that time.

At 2:26pm: (LON:RM.) RM PLC share price was -7.5p at 178p

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