Penguin Results Dampened by Pounded Dollar; Lagardere Grows; and More Corporate News Pearson reported results for the first six months of their fiscal year, with a one percent gain in “underlying [e.g. currency neutral] sales” at Penguin more than wiped out by the declining value of the dollar (as Pearson takes in two-thirds of sales in the US). Sales were down five percent after being converted into British sterling, at 367 pounds, versus 387 pounds a year ago. Profits, which improved significantly on an underlying basis, up 11 percent, were flat in actual currency at 18 million pounds. The company […]
