Pearson reported a slide in sales on Friday but profits rose at the educational publishing group as it promised to stabilise the company this year amid a painful restructuring.
Revenues tumbled 9 per cent to 4.1bn in 2018 compared with the previous year while pre-tax profits rose 18 per cent to 498m, the company said.
Shares were flat by mid-morning in London trade as adjusted operating profit, which strips out costs relating to acquisitions, disposals and major restructuring charges, rose 8 per cent to 546m, in line with guidance.
The group blamed portfolio changes for the revenue fall.
We have a lot still to do, but we expect company-wide sales to stabilise this year, and grow again in 2020 and beyond, said chief executive John Fall…
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