Pearson reported full-year results for 2013, with sales from continuing operations rising 2 percent to £5.177 billion and adjusted operating profit of £736 million, down 21 percent on significant restructuring charges of £135 million and 6% lower margins. The headline for investors is that the company expects another £50 million in restructuring charges in 2014 and warned that adjusted earnings for the coming year will be lower — ranging from 62 to 67 pence per share, compared to 70 pence per share in 2013. As a result, Pearson’s shares are down about 7.5 percent in today’s trading. CEO John Fallon […]
