UK/December 04, 2020/By: Marian McHugh/Source: https://www.channelweb.co.uk/
Education specialist’s share price soars over 14 per cent on foot of trading update.
Education specialist RM has cautioned that the uncertainty thrown up in the market by the pandemic will continue into 2021.
The firm issued a trading update this morning for its fiscal year ending 30 November 2020, in which it reported that it anticipates that its full-year results will be ahead of expectations due to improved trading in Q3 and Q4 as a result of education institutions remaining open throughout regional and national lockdowns.
COVID-19 has somewhat hampered new business development for the firm, though it has won new contracts to deliver digital assessments and cloud solutions.
“We expect the current uncertainty to continue into 2021, with the short-term impact of COVID-19 on education buying patterns and the level of schools exams to be taken, continuing to be difficult to predict,” stated David Brooks, RM CEO.
“However, the increased focus on ensuring education systems can deliver through the pandemic, the resilience RM has shown in 2020 and the longer-term shift to digital enablement in education means RM remains well placed to make progress.”
RM’s share price rose over 14per cent this morning on foot of the trading update. The full-year preliminary results will be released in February 2021.