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Pearson FY19 Underlying Adj. Operating Profit Up 6%; Underlying Revenue Flat

Pearson plc (PSO,PSON.L) reported profit before tax of 232 million pounds for the year ended 31 December 2019 compared to 498 million pounds, last year. Earnings per share was 34.0 pence compared to 75.5 pence. Adjusted operating profit increased 6% to 581 million pounds. Adjusted earnings per share was 57.7 pence compared to 70.2 pence, reflecting an effective tax rate charge of 16.5% in 2019 compared to a credit of 5.2% in 2018.

Fiscal 2019 sales were 3.87 billion pounds compared to 4.13 billion pounds, prior year. Sales decreased 6% on a headline basis. On an underlying basis, sales were flat in 2019.

For fiscal 2020, the Group projects adjusted operating profit of between 410 million pounds to 490 million pounds.

The Board proposed a final dividend of 13.5 pence, an increase of 4%, which results in an overall dividend of 19.5 pence. This will be payable on 7th May 2020.

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