Pearson Fiscal Year Net Loss Widens Amid Tough US, UK Markets
February 24 2017 - 3:08AM
Dow Jones News
By Rory Gallivan
LONDON--Pearson PLC (PSO) reported a wider full-year net loss
Friday as it suffers from declines in the U.K. and U.S. education
markets.
The educational publishing ccompany reported a net loss of 2.56
billion pounds ($3.19 billion) for calendar year 2016, compared
with a GBP433 million loss in 2015. Revenue rose to GBP4.55 billion
from GBP4.47 billion, but fell 8% in underlying terms.
The final dividend was maintained at 34 pence, but Pearson said
it planned to cut its dividend in 2017, in line with comments it
made in January when it warned of the weak performance in 2016.
"We will continue to accelerate our digital transformation,
simplify our portfolio, control our costs and focus our investment
on the biggest growth opportunities in education," Chief Executive
John Fallon said.
-Write to Rory Gallivan at rory.gallivan@wsj.com
(END) Dow Jones Newswires
February 24, 2017 02:53 ET (07:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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