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Introduction
RM plc is the leading supplier of IT systems and services to UK education. The
company employs over 1,300 people – most at its Abingdon offices, though there
are five other UK locations variously offering sales, support and development.
There are international offices in India, US and Australia. It is part of the RM
group, which also includes a number of small specialised subsidiaries, primarily
synergistic companies that were acquired to provide particular opportunities in
the educational sector. Established in 1973, RM now has a range of offerings –
from innovative hardware to award-winning curriculum software via internet
connection services and participation in major PFI contracts.
Executive Summary
RM’s business is moving increasingly towards long-term multimillion-pound
contracts with colleges and local education authorities to design and supply systems;
these can be very good for the profit and loss account, but it can take a lot of time
and resource to win them. This is especially true of bids under Building Schools for
the Future, the government’s PFI programme for England’s secondary schools. And
the major customers are all subject to the kind of political and economic vagaries that
make their own funding so variable.
In this potentially risky climate, RM has been doing rather well. After a tricky time in
2002, when RM turned in a loss, the company has since refocused, trimmed expenses,
invested both in products and in customer satisfaction, and seen good improvements
in revenue, profits, and profitability. In the last financial year RM Group reported
turnover up 22% at £263.3m, with pre-tax profits 13% higher at £7.1m.
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