Pearson: Earnings could jump 20% this year

GMT 13:12 2015 Friday ,27 February

Arab Today, arab today Pearson: Earnings could jump 20% this year

Financial Times publisher Pearson
London - AFP

Financial Times publisher Pearson forecast Friday that earnings could soar by a fifth this year, aided by cost-cutting and expanding online sales.
Earnings per share -- a key measure of company performance -- could rise to between 75 pence and 80 pence this year, compared with 66.7 pence in 2014, Pearson said in a results statement.
The group added however that net profits slid 12.5 percent to £471 million last year on restructuring costs and adverse foreign exchange moves -- particularly the strength of the pound against the dollar.
Pearson, which earns 90 percent of sales from its education division, said revenues dipped almost four percent to £4.87 billion.
“We’ve completed our intense two-year restructuring and reinvestment programme and performed well competitively despite some challenging market conditions,” said chief executive John Fallon.
"We enter 2015 better placed to have a bigger impact on student learning through the combination of new technology and best teaching practice."

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