Full year sales up five per cent at Pearson

Full year sales rose five per cent at constant exchange rate to 6.1bn pounds at education and publishing company Pearson.

Full year sales rose five per cent at constant exchange rate to 6.1bn pounds at education and publishing company Pearson.

In its unaudited preliminary results for 2012, the company reported that adjusted operating profit was 1.0% higher than in previous year at £936m.

Adjusted earnings per share were 84.2p, compared to 86.5p in 2011. Operating cash flow was £788m compared to £983m in 2011.

The dividend was increased by 7.0% to 45p.

Geographical performancePearson reported that North American Education revenues were up 2.0% in a year when US School and Higher Education publishing revenues declined by 10% for the industry as a whole.

International Education revenues were up 13% with emerging market revenues up 25%.

FT Group revenues rose 4.0% with the Financial Times' total paid print and online circulation up to 602,000. Digital subscriptions exceeded print circulation for the first time.

Penguin revenues increased 1.0%, with strong publishing performance and eBooks now 17% of sales.

John Fallon, Chief Executive Officer of Pearson, said: "Pearson has a sound, successful strategy. Now we are significantly accelerating its implementation.

"Trading conditions are tough and structural changes mean many of our traditional publishing activities are under pressure. But the underlying demand for effective education remains immensely powerful and our developing world and digital services businesses have real scale and momentum.

MF

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?
Bitcoin

Central banks are rushing to build digital currencies. What are they, and what do they mean for you?

As bitcoin continues to soar in value, many of the world’s central banks are looking to emulate it by issuing their own digital currencies. But centra…
8 Apr 2021
Nuclear power might never be popular – but now looks a good time to invest
Commodities

Nuclear power might never be popular – but now looks a good time to invest

Nuclear power gets a very bad press, but it is the ultimate renewable energy source. Interest in it is perking up again, says John Stepek. Which means…
9 Apr 2021
House prices: from boom to even bigger boom
House prices

House prices: from boom to even bigger boom

UK house prices have risen to new to record highs, says Nicole Garcia Merida. Demand continues to outpace supply, but continued low interest rates, th…
9 Apr 2021