Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Britain's Pearson swings to loss but sales grow  Join our daily free Newsletter

MENAFN - AFP - 26/07/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) British publisher Pearson fell into a first-half net loss on the back of restructuring costs, the group said on Friday, but better-than-expected revenues sent its share price surging.

The owner of the Financial Times newspaper suffered a slender net loss of 8.0 million (12 million, 9 million euros) in the six months to the end of June, compared with profit after tax of 36 million a year earlier.

Profits were also hit by costs arising from discontinued operations related to the merger of its publishing businesses Penguin and Bertelsmann's Random House division. The deal was completed at the start of July.

Despite the net loss, Pearson shares rallied as investors welcomed news that sales climbed five percent at constant exchange rates to 2.8 billion, beating market expectations.

"In trading terms, 2013 has begun much as we expected," said Pearson 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."

In late morning deals, Pearson's share price jumped 7.19 percent to 1,342 pence on London's FTSE 100 index, which was 0.11 percent higher at 6,595.04 points.

"Investors are focusing on the sales aspect, which beat expectations," noted IG analyst Brenda Kelly.<


 


AFP




  MENA News Headlines
 Jan 30 2015 - test from diaaAdvanced Currecy Markets [ACM]
(MENAFN - Advanced Currecy Markets [ACM]) ...

 Jan 29 2015 - HH the Emir Receives Phone Call from Ban Ki-moonQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Thursday received a phone call from the United Nations Secretary-General, Ban Ki-moon, during which he thanked HH the Emir on the ...

 Jan 29 2015 - Consumer spends on pharma products to increase to Dh5.03b by 2020Khaleej Times
(MENAFN - Khaleej Times) Dubai € Consumer expenditure on pharmaceutical products, medical appliances and equipment in the UAE has experienced a strong increase and is forecast to be valued around ...

 Jan 29 2015 - UAE- Time to put cyber security on top priorityKhaleej Times
(MENAFN - Khaleej Times) Kaspersky lab solutions block millions of attacks across the globe, which clearly indicates that cyber criminals are smart, but not smarter than security providers.This was ...

 Jan 29 2015 - Indian business council honours Emirati businessmenKhaleej Times
(MENAFN - Khaleej Times) Dubai - The Indian Business and Professional Council (IBPC) hosted a reception on the occasion of the 66th Republic Day of India at the Oberoi Hotel, Business Bay, on Sunday. ...

 Jan 29 2015 - UAE, Canada discuss ways to boost tradeKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, received a Canadian delegation led by Martin Zablocki, CEO of the Canadian ...

 Jan 29 2015 - Emirates NBD facilitates Stanbic in $85 million loan facilityKhaleej Times
(MENAFN - Khaleej Times) Al Ahli Bank of Kuwait and Standard Chartered Bank joined the transaction as mandated lead arrangers while Al Khalij Commercial Bank and The Commercial Bank of Qatar ...

 Jan 29 2015 - NBAD profit jumps 28% in 2014Khaleej Times
(MENAFN - Khaleej Times) Abu Dhabi - A strong growth in incomes from interest and non-interest based revenues bolstered the National Bank of Abu Dhabi (NBAD) profits to Dh1.372 billion in the quarter ...

 Jan 29 2015 - UAE pharma spend to hit Dh5 billion by 2020Khaleej Times
(MENAFN - Khaleej Times) It is also forecasted to increase at a compound annual growth rate (CAGR) of about 9.78 per cent from 2014 to 2020 as, by then, the value of consumer expenditure on ...

 Jan 29 2015 - Parents happy with children's educationKhaleej Times
(MENAFN - Khaleej Times) Abu Dhabi: A survey by the Abu Dhabi Education Council (Adec) has revealed that parents across the emirate are satisfied with their children's schools. The education ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help