Pearson reported sales for the first half of the year of £2.047, down 7 percent (but up 2 percent on currency neutral basis). Adjusted operating profit was 75 million pounds, compared to 137 million pounds a year ago, reflecting bigger charges on their continuing restructuring charges (£43 million so far this year), foreign exchange, and “the impact on margins of the phasing of revenues into the second half of 2014.” Those charges were apportioned as: School, £22 million; Higher Education, £10 million; Professional, £4 million, and PRH £7 million. All of Pearson’s sales decline and then some came from the […]
