RM, the education technology provider recorded decline in revenues by 15% during the first half of the current fiscal year as the sales slipped to £133m during the month of March while the sales during the same period for the previous year were £156.4m.

The company also suffered pre-tax loss of £1.4m while during the same period during last year, the company gained profit worth £1.2m.

Terry Sweeney, the RM boss said, "We experienced challenging market conditions in our core markets in the first half, as customers continued to respond to changes in policy and funding in both the UK and the US," and also added, "We have realigned our cost base through a restructuring programme to reflect the changed conditions and to protect group profitability".

RM’s chief accepted that due to relocation of education funds and slower performance, the company is going through a rough phase in its US and UK wings.

The company announced an increase of 6%in its interim dividends.

The shares of the RM Company on the London Stock Exchange are trading at 123.25 pence.

The interim results declared today also revealed that the Oxfordshire-based firm has £436m of forward-committed revenue which is an increase of 12% as compared to last year.