RM plc announced in line with its strategy to be a leading global educational technology, digital learning and assessment solution provider, that the Board has taken the decision to close its loss-making Consortium business, part of the RM Resources division. As announced by Mark Cook, CEO, at the half year results in August, focus in the second half has been on the development of a strategic roadmap for RM to create a simpler, more profitable business. This included a detailed review of RM?s portfolio to identify core areas of the business which were best placed to capitalise on the substantial EdTech opportunities.

Full details of its strategic roadmap will be provided as part of RM?s full year results announcement in the New Year. The Consortium business, the provider of education supplies and resources to schools, has experienced an extended period of underperformance following the negative impact of the rollout of a new ecommerce platform in 2022. Company announced that it has taken the difficult decision to close this business from the end of December.

The decision to close Consortium is in line with the future strategic direction for the Company and has been made with the full cooperation and support of its lenders. The decision will also enable RM Resources management to focus on its successful TTS business.