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Technology firm's profits plunge

SCHOOLS technology and software services company RM, formerly Research Machines, has issued a profits warning for the third time in eight months.

The announcement, which followed the recent departure of 92 of its 1,500 employees, saw its share price tumble to 77p, close to its five-year low. Last week, RM joined other firms in calling for a judicial review of the BBC's Curriculum Online plans, which have been submitted to the Government for approval.

The firms are angry that licence fees will be used to pay for online learning support that they see as competition. RM recorded a pre-tax loss of pound;14.1 million for the six months to March, after a pound;1.5m profit in the previous six months.

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