RM sales drop on education cuts

Education software maker RM posted a first-half net loss of £1.3m yesterday as educational spending in the UK dropped in response to changes in government policy. Revenues fell 15 per cent to £133m, though its contract pipeline is up 12 per cent at £436m. A restructuring charge of £1.8m also helped to send the company into the red. Chief executive Terry Sweeney said market conditions remained challenging.