Separate from news of the planned joint venture with Bertelsmann, Pearson issued a brief update on their third quarter results on Monday morning. Companywide sales rose 5 percent in the first nine months of the year (they were up 7 percent at the halfway mark), and operating profit was down 5 percent, “reflecting the sale of FTSE in 2011, acquisition integration costs and continued weakness in UK professional training.” At Penguin, sales are down 1 percent on a currency-neutral basis, and 2 percent on an underlying basis (taking out both currency changes and portfolio changes). That’s a modest improvement from the […]
