Pearson 2020 half-year results

   

£m H1 2020 H1 2019 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
BUSINESS PERFORMANCE
Sales 1,492 1,829 (18)% (20)% (17)%
Adjusted operating (loss)/profit (23) 144 (116)% (117)% (119)%
Operating cash flow (214) (129)
     
Adjusted (loss)/earnings per share (basic) (5.1)p 13.2p      
Dividend per share 6.0p 6.0p      
Net debt (982) (1,376)      
STATUTORY RESULTS
Sales 1,492 1,829      
Operating profit 107 37
     
Cash used in operations (117) (117)
     
Basic earnings per share 6.3p 6.1p      
£ millions H1 2020 H1 2019 HEADLINE GROWTH CER GROWTH UNDERLYING GROWTH
SALES
Global Online Learning 316 288 10% 6% 5%
Global Assessment 397 525 (24)% (27)% (27)%
North American Courseware 375 475 (21)% (24)% (14)%
International 404 541 (25)% (23)% (23)%
Total sales 1,492 1,829 (18)% (20)% (17)%
ADJUSTED OPERATING (LOSS)/PROFIT
Global Online Learning 24 41 (41)% (44)% (41)%
Global Assessment 71 174 (59)% (61)% (61)%
North American Courseware 36 28 29% 21% (11)%
International 46 120 (62)% (60)% (60)%
Enabling Functions (201) (244) 18% 19% 19%
Penguin Random House 1 25 (96)% (96)% -
Total adjusted operating (loss)/profit (23) 144 (116)% (117)% (119)%
all figures in £ millions 2020 half year 2019 half year 2019 full year
Operating profit 107 37 275
Add back: Cost of major restructuring - 64 159
Add back: Intangible charges 51 49
163
Add back: Other net gains and losses (181) (6) (16)
Adjusted operating (loss) / profit (23) 144 581