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Disappointing Results For Pearson
Pearson PLC revealed today its pre-tax results for the half year to June 30 1996. Although sales are up by 20%, figures are generally lower than last year with profit before tax reduced by almost a third. In reaction to the disappointing figures, the Board reflected on last year and noted that profits were earned in the second half of the year.
| 1996 half year (£m) | 1995 half year (£m) | % change | 1995 full year (£m) | |
|---|---|---|---|---|
| Sales | 940 | 781 | 20% | 1830 |
| Operating Profit | 49 | 71 | -31% | 260 |
| Profit before tax | 30 | 50 | -40% | 365 |
| Earnings per share | 2.8 | 8.5 | -67% | 47.1 |
| Adjusted earnings per share | 4 | 7.8 | -49% | 28.8 |
| Dividend per share | 6.9 | 6.325 | -9% | 16.5 |
The selling of Westminster Press to Newsquest *(Newsquest Buys Westminster Press For £305m), reflects Pearson’s bid to concentrate on growth in education and entertainment.
Pearson: 0171 411 2000
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