Pearson's earnings ahead of expectations

published 27 February 2012

Pearson, publisher of Penguin books and the Financial Times, says it expects revenues from digital and services businesses to exceed turnover from traditional businesses in 2012.

The group saw sales climb to £5,862m in 2011 from £5,663m in 2010, below the market consensus forecast of £5,919m. Statutory profit before tax jumped 72% to £1,155m from £670m the year before. Adjusted earnings per share climbed 12% to 86.5p, ahead of the consensus forecast of 84.48p, from 77.5p in 2011. The full year dividend is bumped up 9% to 42.0p from 38.7p in 2010; the market had been expecting a more generous pay-out of 42.45p.

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