Pearson says earnings could jump 20% this year

(MENAFN- 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."