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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for youConsumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator
