Pearson 2018 half-year results

   

£m H1 2018 H1 2017 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
BUSINESS PERFORMANCE
Sales 1,865 2,047 (9)% (3)% 2%
Adjusted operating profit 107 107 0% 16% 46%
Operating cash flow (202) (72)
     
Adjusted earnings per share 8.2p 5.6p      
Dividend per share 5.5p 5p      
Net debt (775) (1,633)      
STATUTORY RESULTS
Sales 1,865 2,047      
Operating profit 233 16
     
Cash generated from operations (131) (219)
     
Basic earnings / loss per share 24.1p (2.1)p      
£ millions H1 2018 H1 2017 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
SALES
North America 1,223 1,285 (5%) 3% 3%
Core 383 384 0% 2% 2%
Growth 259 378 (31%) (26%) (4)%
Total sales 1,865 2,047 (9%) (3%) 2%
ADJUSTED OPERATING PROFIT
North America 64 43 49% 77% 89%
Core 10 10 0% 0% 11%
Growth 11 8 38% 88% 38%
Penguin Random House 22 46 (52%) (50%) (4)%
Total adjusted operating profit 107 107 0% 16% 46%
all figures in £ millions 2018 half year 2017 half year 2017 full year
Operating profit 233 16 451
Add back: Cost of major restructuring 24 - 79
Add back: Intangible charges 57 91
166
Add back: Other net gains and losses (207) - (128)
Add back: Impact of US tax reform - - 8
Adjusted operating profit 107 107 576