RM has reported "satisfactory" progress for its third quarter of 2013, according to its most recent interim management statement.
A strong performance by its Education Technology division between 1 June and 17 September propelled the firm to a better-than-expected second half of the year, it revealed, and the division has also signed a new seven-year ICT managed services deal with South Lanarkshire Council.
In its last statement, the firm warned in its H1 financials that it was having to reshape the business to prepare for the end of the Building Schools for the Future scheme. It has also been awarded preferred bidder status to provide the RM Unify platform across all schools in Scotland for a further two years.
The statement revealed that at TTS, the dominant business within the Education Resources division, revenue has been stronger in recent months compared to earlier in the year. But it warned that the business expects "minimal revenue" in the second half of the year from a significant corporate and social responsibility programme sponsored by a major UK Group that represents more than 10 per cent of annual divisional revenue.
RM also revealed that its Assessment and Data Services has been awarded preferred bidder status under a new procurement for the English Schools Performance Data Programme until 2018, with an option to extend to 2020.
The firm had net cash of £38.3m at 31 August 2013, compared with £13.2m the previous year.
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