Pearson reported full-year results for a rough 2015 that are line with their previously-reduced guidance, and their January announcement of plans to cut 4,000 jobs and take restructuring charges of £320 million in 2016. For 2015, sales of £4.468 billion fell by 2 percent (£72 million), and adjusted operating profit of £723m was down by the same 2 percent (£9 million). Actual operating profit, however, swung to a loss of -£404 million (compared to profits of £348 in 2014). The two big movements of the year are found in their “statutory profit” of £823 million. On the positive side, sales of the FT, The Economist […]
