RM says trading in line with expectations
In a very brief trading update, education and IT resources company RM confirmed that results for the year to the end of November are likely to be in line with expectations.
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The group said cash and short-term deposits as at 30 November were £48.3m, up from £47.9m last year.
In addition, RM said it has reached an agreement over the valuation on its defined benefit pension scheme with its trustees.
The deficit was agreed at £41.8m, down from £53.5m at the end of May 2012.
The deficit recovery plan comprises an initial cash contribution of £4m and £4m into the escrow account previously established for the purposes of further risk mitigation exercises, together with deficit recovery payments remaining at £3.6m per annum until 2024.
At 1407 GMT, RM shares were down 4.2% to 161p.