Pearson Profits Rise To £365m

Financial figures released today by media group Pearson show a 23% rise in pre-tax profits, from £298m in 1994 to £365m in 1995. Earnings per share also rose from 40.4p to 47.1p.

The record pre-tax profits were boosted by capital gains of £131m on BSkyB and the Information section (which includes newspapers) showed an increase of 24% in profits, up from £84.7m to £105.3m. The flagship of this division remains the FT which recently showed an increase in readership. At Westminster Press, the Group’s UK regional newspaper business, a radical overhaul of costs in the middle of the year produced a 40% net gain in operating profits to £22m.

Pearson Television performed particularly well recording profits of £33.5m, up 189% from £11.6m in 1994. The Group spent over £320m on a series of acquisitions which included Grundy Worldwide. Grundy’s performance exceeded expectations, and Thames Television and FT Television both continued to improve. Operating contribution from BSkyB however dropped from £57.6m to £32.5m.

Pearson: 0171 411 2000