Pearson released 2019 preliminary results February 21, with sales decreasing to £3.87 billion from £4.13 billion in 2018. The bigger headline was operating profit, which fell by more than half, to £275 million from £553 million in 2018. Earnings per share fell even more, due to a one-time tax benefit the year before and higher net interest payable. The decline included £159 million in restructuring charges. Pearson’s stock traded fell over 5 percent today on the poor news, down to its lowest level in many years. Pearson had already reduced their 2020 guidance in an understated — and unrealistic — […]
