Fusion Corporate Partners

Pearson has published its half year results, at the same time  announcing that it is exploring the possibility of selling financial intelligence business Mergermarket. John Fallon, chief executive, said that while Mergermarket is a growing business, it does not fit with Pearson’s goal to be a market-leading education company.

Highlights

• Pearson is exploring the possible sale of Mergermarket, the financial intelligence, data and analysis business. Pearson has appointed J.P. Morgan Cazenove to advise on the process.
• John Fallon, the chief executive of Pearson, stressed that the paper was not for sale.
• Pearson revenues up 5% to £2,243M
• FT Group Revenues flat – £217M in 2013, £216M in 2012
• FT Group Operating Profit up to £26M from £21M in 2012
• Penguin Random House merger completed on 1 July 2013; strong growth at Penguin (up 14%) in the first half.
• Adjusted operating profit £50m lower at £137m, including £37m of gross restructuring charges and, in addition, investments to support new product launches in the second half.
• Adjusted earnings per share down 4.9p to 9.9p including restructuring charges.
• Interim dividend up 7% to 16p.

Click on the Financial Highlights table below to enlarge the view

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. 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.”

Read the full announcement here.

UK, London

Related links:

• Pearson VUE acquires Exam Design Posted on March 7, 2013
• Pearson announces preliminary results for the year ending 31 December 2012 Posted on February 25, 2013
• Pearson trading update – continuing tough market conditions Posted on January 22, 2013
• Pearson announces Investment in Nook Media Posted on January 5, 2013
• Pearson announces Investment in Nook Media Posted on January 5, 2013
• Pearson and Bertelsmann agree Penguin and Random House merger Posted on October 29, 2012
• Bertelsmann and Pearson in talks about combining their publishing divisions posted on October 25, 2012
• Pearson acquires online learning business EmbanetCompass for $650M Posted on October 16, 2012
• Pearson – first 6 months results Posted on July 30, 2012
• Pearson to acquire Author Solutions for £116M Posted on July 19, 2012
• Pearson acquires GlobalEnglish for $90M Posted on May 25, 2012
• Pearson acquires Certiport for $140M posted on May 19, 2012
• Bertelsmann acquires digital media agency Smashing Ideas for Random House Posted on May 10, 2011
• 72% rise in profits at Pearson Posted on February 28, 2012
• Pearson to sell 50% stake in FTSE to the London Stock Exchange for £450 million Posted on December 15, 2011
• Skimlinks Raises $4.5 Million Series B Round Posted on November 11, 2011
• Pearson acquires Connections Education Posted on September 15, 2011
• Pearson to acquire Schoolnet for $230M Posted on April 29, 2011
• Pearson agrees to buy Education Development International Posted on March 8, 2011
• Pearson acquires TutorVista – Expands Pearson’s education business in India Posted on January 19, 2011
• Pearson to acquire SEB’s school learning systems business Posted on August 13, 201o
• Pearson to buy Melario for £99.3 million Posted on May 20, 2010