RM warning halves share price

Educational software specialist in trouble...

RM, provider of software, services and systems to the educational sector, saw its share price plunge more than 50 per cent this morning in the wake of a profit warning. The company warned that this year's profits are now likely to be less than half last year's. The company's board has also said that revenue will slump 15 per cent . The company reviewed its full-year expectations after conducting market research at educational ICT trade show BETT and evaluating recent order levels. The news rattled traders and sent its share plummeting 56 per cent to 92p by mid-morning. Shares hit a 52-week high last summer of more than 600p.