Pearson: shares surge after 'good' quarter
(CercleFinance.com) - UK publisher Pearson said on Friday it has made "good progress" against strategic priorities over the six months to 30 June.
The educational publisher and the owner of Penguin books said sales fell to 1.86 billion pounds in the first half of the financial year, down 9% from 2 billion pounds one year earlier.
Adjusted earnings per share (EPS) were 8.2 pence, against 5.6 pence in 2017, on a broadly unchanged 107-million-pound adjusted operating profit.
"Although there is still much to do, we have had a good first half and continued to make progress against our strategic priorities”, said Chief Executive John Fallon.
Pearson's main goals are digital transformation, investing in structural growth and simplification, making a "leaner and more agile" business, he said.
Guidance for the full year remains unchanged, with the group expecting to deliver underlying profit growth in 2018, as well as an adjusted operating profit of between 520 million pounds and 560 million pounds and adjusted earnings per share of 49 pence to 53 pence.
The London-listed shares rose 3.5 per cent after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The educational publisher and the owner of Penguin books said sales fell to 1.86 billion pounds in the first half of the financial year, down 9% from 2 billion pounds one year earlier.
Adjusted earnings per share (EPS) were 8.2 pence, against 5.6 pence in 2017, on a broadly unchanged 107-million-pound adjusted operating profit.
"Although there is still much to do, we have had a good first half and continued to make progress against our strategic priorities”, said Chief Executive John Fallon.
Pearson's main goals are digital transformation, investing in structural growth and simplification, making a "leaner and more agile" business, he said.
Guidance for the full year remains unchanged, with the group expecting to deliver underlying profit growth in 2018, as well as an adjusted operating profit of between 520 million pounds and 560 million pounds and adjusted earnings per share of 49 pence to 53 pence.
The London-listed shares rose 3.5 per cent after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.