Educational supplies company RM (LON: RM.) warns that its Consortium operations are likely to hold back profitability and the full year outcome will be below expectations. RM lost money in the first half and management expects to breakeven at the operating level in 2023 rather than make an operating profit of £9m. The share price slumped 29.8% to 49.3p.
The Consortium business supplies various products to schools, and it had problems with the roll out of its Evolution ecommerce platform. This has been paused so that the backlog of orders can be cleared. The finance function has been rebuilt an...
