Pearson Posts Pre-tax Loss In H1; Backs Forecast - Quick Facts

(RTTNews) - British media company Pearson Plc (PSON.L, PSO) reported Friday a loss in its first-half of fiscal 2013, despite higher sales. Further, the company declared a dividend, and backed its fiscal 2013 earnings view.

For the first half, the company's pre-tax loss was 4 million pounds, compared to last year's profit of 28 million euros. Loss attributable to equity holders was 8 million pounds or 1 pence per share, compared to profit of 36 million pounds or 4.5 pence per share a year ago.

On a continuing operations basis, the company posted profit of 2 million euros or 0.4 pence per share, lower than last year's 20 million euros or 2.6 pence per share.

Adjusted earnings per share declined 33 percent to 9.9 pence including restructuring charges.

Sales increased to 2.24 billion pounds from 2.14 billion pounds a year ago. Sales were up 5 percent at constant exchange rates. The company experienced good growth in education led by North America and developing markets.

Further, the company said its board has declared an interim dividend of 16p per share, a 7 percent increase on 2012.

Looking ahead for the year 2013, the company continues to expect adjusted earnings per share to be broadly level with last year's 82.6 pence under revised IAS 19, before expensing restructuring costs.

John Fallon, chief executive, said, "In trading terms, 2013 has begun much as we expected. In general, good growth in our digital, services and developing-market businesses continues to offset tough conditions for traditional publishing."