Pearson Annual Profit Falls - Quick Facts
(RTTNews.com) - British publisher Pearson Plc (PSON.L, PSO) posted a plunge in full-year 2012 statutory pre-tax profit to 434 million pounds, from 1.05 billion pounds, with profit attributable to equityholders of the company also plummeting to 326 million pounds, from last year's 957 million pounds.
Annual earnings per share were 40.5 pence, a sharp drop from 119.3 pence in 2011, while it slid 3% to 84.2 pence, from the prior year's 86.5 pence, on an adjusted basis.
On the other hand, sales on continuing operations totaled 5.06 billion euros this year. On a constant exchange rate basis, sales in 2012 went up 5% year-on-year to 6.1 billion pounds, from 5.86 billion pounds, with digital and services businesses contributing 50% of sales.
Looking ahead, Pearson expects tough trading conditions and structural industry change to continue in 2013. Excluding restructuring costs and including Penguin for the full year, the company hopes to achieve 2013 operating profit and adjusted EPS broadly level with 2012.
In addition, the board is proposing a dividend increase of 7% to 45.0 pence, subject to shareholder approval.
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