2002 Interim results: Segmental analysis

Pearson, the international media company, will release its interim results for the six months ended 30 June 2003 on Monday 28 July 2003.

Ahead of the interim announcement, we are providing our divisional results for the first half of 2002 based on the segmental analysis introduced for the 2002 preliminary results. This analysis provides a more detailed profits breakdown for Pearson Education, our largest division, and includes the results of our internet enterprises within their base businesses.

The 2002 results are as follows:

Pearson Education

Pearson Education
£ millions 2002 half year 2002 full year
Sales    



School  519 1,151
Higher Education 222 775
Professional * 285 784



FT Knowledge ** 23 46



Total 1,049 2,756



     
Operating profit/(loss)    



School 12 115
Higher Education (32) 142
Professional * 29 81



FT Knowledge ** (9) (12)



Total 0 326



* At the start of 2003, we moved our Alpha publishing imprint from Pearson Education?s Professional division to Penguin. In 2002, Alpha had full-year sales of approximately £19m and profits of £8m.

** In January 2003 we restructured FT Knowledge, selling its corporate training arm and integrating its remaining businesses within the FT and government solutions.

Financial Times Group

Financial Times Group
£ millions 2002 half year 2002 full year
     



Sales    



Financial Times 115 224
Other FT Publishing 55 105
Recoletos 74 148
IDC 126 249



Total 370 726



     
Operating profit / (loss)    



Financial Times (11) (23)
Other FT Publishing 6 10
Recoletos 14 29
IDC 35 70
Associates and joint ventures (6) (6)



Total 38 80



 

Notes

The ?as-reported? 2002 results for Pearson Education and the FT Group were:

Pearson Education

Pearson Education
£ millions 2002 half year 2002 full year
Sales    



US School  394 892
US College 158 624
US Professional 232 645
International 242 549



Pearson Education 1,026 2,710



FT Knowledge 23 46



 Total 1,049 2,756



     
Operating profit/(loss)    



Pearson Education 0 326



Financial Times Group

Financial Times Group
£ millions 2002 half year 2002 full year
Sales    
Non-internet 347 678
Internet enterprises 23 48



Total 370 726



     



Operating profit / (loss)    
FT Newspaper 7 1
Other FT Publishing 7 13
Recoletos 14 29
Interactive Data Corporation 37 74
Associates and joint ventures (3) (3)
Internet enterprises (24) (34)



Total 38 80



 

Further information

Luke Swanson + 44 (0) 20 7010 2313