Pearson 2019 half-year results

   

£m H1 2019 H1 2018 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
BUSINESS PERFORMANCE
Sales 1,829 1,865 (2)% (6)% 2%
Adjusted operating profit 144 107 35% 26% 30%
Operating cash flow (129) (202)
     
Adjusted earnings per share (basic) 13.2p 8.2p      
Dividend per share 6.0p 5.5p      
Net debt (1,376) (775)      
STATUTORY RESULTS
Sales 1,829 1,865      
Operating profit 37 233
     
Cash generated from operations (117) (131)
     
Basic earnings per share 6.1p 24.1p      
£ millions H1 2019 H1 2018 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
SALES
North America 1,209 1,223 (1)% (7)% 1%
Core 403 383 5% 5% 6%
Growth 217 259 (16)% (15)% 2%
Total sales 1,829 1,865 (2)% (6)% 2%
ADJUSTED OPERATING PROFIT
North America 79 64 23% 13% 11%
Core 31 10 210% 200% 190%
Growth 9 11 (18)% (18)% 50%
Penguin Random House 25 22 14% 9% 9%
Total adjusted operating profit 144 107 35% 26% 30%
all figures in £ millions 2019 half year 2018 half year 2018 full year
Operating profit 37 233 553
Add back: Cost of major restructuring 64 24 102
Add back: Intangible charges 49 57
113
Add back: Other net gains and losses (6) (207) (230)
Add back: UK pension GMP equalisation
- - 8
Adjusted operating profit 144 107 546