Pearson announced preliminary annual results Friday morning, with sales of £4.874 billion down 4 percent (but up 2 percent on a constant-exchange-rate basis) and higher operating profit of £720 million — with lower restructuring charges but a higher tax rate, leaving earnings down to 66.7 pence per share, compared to 70.1 pence per share a year ago. Those results were in line with their “trading update” from earlier this year. Chief executive John Fallon declared, “We’ve completed our intense two year restructuring and reinvestment programme and performed well competitively despite some challenging market conditions.” The company forecast improved adjusted earnings per share of […]
