Pearson Trades in Line; Books Earnings Loss
July 29 2016 - 2:47AM
Dow Jones News
By Simon Zekaria
LONDON--Education specialist Pearson PLC (PSON.LN) Friday said
it is trading in line with its expectations and reiterated its 2016
guidance, adding that it goals to 2018 are unchanged.
For the half year ended June 30 Pearson said it made a pretax
loss of GBP306 million ($403 million), compared with a loss of
GBP132 million a year earlier.
Sales on an adjusted basis fell 7% year-over-year to GBP1.87
billion.
Stripping out exceptional and other one-off items, the adjusted
operating profit was GBP15 million compared with GBP54 million.
It expects to report adjusted operating profit before
restructuring costs of between GBP580 million and GBP620 million in
2016.
It said if current exchange rates persist until the end of 2016
the earnings per share guidance range will increase by
approximately 4 pence.
It recommended a dividend of 18 pence, unchanged from a year
earlier and in line with previous guidance, it said.
Pearson expects at least GBP800 million operating profit by
2018.
--Write to Simon Zekaria at simon.zekaria@wsj.com
(END) Dow Jones Newswires
July 29, 2016 02:32 ET (06:32 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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