Publishing house Pearson PLC (PSON.L,PSO: Quote) Friday said profit attributable to equityholders of the company fell to 43 million pounds from 60 million pounds. Earnings per share were 5.4 pence compared to 7.5 pence last year.
The company attributed the decline to phasing and a 21 million pounds in accelerated write-down relating to the 2010 acquisition of Melorio Plc. Adjusted earnings per share fell to 15.6 pence from 16.8 pence.
Pre-tax profit declined to 59 million pounds from 82 million pounds.
Sales climbed 7 percent to 2.583 billion pounds from 2.416 billion pounds. On an underlying basis, sales were up 1 percent.
Operating expenses climbed to 1.292 billion pounds from 1.188 billion pounds.
The board declared an interim dividend of 15 pence per share, up 7 percent from last year.
Pearson reiterated its full year outlook of growth in sales and operating profits at constant exchange rates. Margins will reflect acquisition integration costs and the FTSE sale.
The company sees good trading momentum in North America, International and the FT Group, offsetting weakness in Professional Education and Penguin.
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by RTT Staff Writer
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