Top of the Class: RM sees profits soar

UK spending on education to hit £360m by 2003...

RM, the UK company that supplies workstations and software to the education market, announced increased profits for the six months to 30 September despite issuing a profits warning two months ago. The company remained cautious about its full-year prospects but pointed to some good news in the shape of increased government spending on education. That figure, RM said, would rise from £245m in 2001 to £355m next year and £360m by 2003. RM's pre-tax profits hit the £16.3m mark, a 60 per cent rise, while sales were 17 per cent up to £241.9m.