Pearson first-half profits fall 62pc

 
Suzie Neuwirth

BRITISH publisher Pearson today posted a 62 per cent fall in half-year operating profits to £20m, as it continues its restructuring programme to focus on emerging markets and digital services.

The Financial Times-owner said adjusted earnings per share fell 33 per cent to 9.9p over the period, but sales rose seven per cent, with outlook for the year unchanged.

“In trading terms, 2013 has begun much as we expected,” said chief executive John Fallon.

“In general, good growth in our digital, services and developing-market businesses continues to offset tough conditions for traditional publishing.

“Our strategy is to transform Pearson into a single operating company that is sharply focussed on the biggest needs in global education and on measurable learning outcomes.

“With our restructuring programme on track and the reorganisation of the company under way, we are making significant progress towards that goal.”

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