Pearson H1 Pre-tax Loss Widens, Reiterates 2015 Outlook - Quick Facts

(RTTNews) - British publishing and education company Pearson plc (PSO, PSON.L) reported a loss before tax of 112 million pounds for the half-year 2015, sharply wider than 36 million pounds in the previous year.

Loss for the period from continuing operations widened to 79 million pounds or 9.7 pence per share from 26 million pounds or 3.2 pence per share in the year-ago period.

Including continuing and discontinued operations, the company reported loss of 79 million pounds, compared to a profit of 227 million pounds last year.

Excluding items, adjusted earnings per share was 4.4 pence, compared to 4.7 pence in the year-ago period.

Sales for the first half increased 5 percent to 2.16 million pounds from 2.05 million pounds in the same period last year. Both underlying sales growth and constant exchange rate sales growth was 1 percent.

The board of Pearson has declared a 6 percent higher interim dividend of 18 pence per share.

The Group reiterated the guidance it gave on February 27, 2015 and the Group still expects to report adjusted earnings per share of between 75 pence and 80 pence in 2015.

The group said we expect cyclical and UK policy related factors to stabilise in 2015. The US policy environment remains uncertain.

John Fallon, chief executive said: "Overall, we're competing well, enabling us to reaffirm our full year guidance and increase the interim dividend. The new education products and services we're developing which will enable far more people of all ages to discover the joy of learning and progress in their careers."

On Thursday, Pearson agreed to sell the Financial Times Group to Japanese media group Nikkei, Inc. for 844 million pounds or $1.31 billion in cash.