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
| £ 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
| £ 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
| £ 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
| £ 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