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Pearson (PSON)

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idpickering
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Pearson (PSON)

#203070

Postby idpickering » February 22nd, 2019, 7:17 am

Highlights of finals here; viewtopic.php?f=15&t=16399

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Re: Pearson (PSON)

#217390

Postby idpickering » April 26th, 2019, 7:26 am

Pearson 2019 Q1 Trading Update (Unaudited)

Underlying revenue up 2%, operating performance on track

· Revenue grew 2% in North America, 4% in Core and was flat in Growth.

· We remain on track to deliver annualised cost savings in excess of £330m1 exiting 2019.

· We completed the sale of our US K12 Courseware business at the end of the quarter.

· Our guidance for 2019, after adjusting for IFRS 16 and the disposal of US K12 Courseware, remains unchanged. We expect to deliver adjusted operating profit of between £590m to £640m.

· This guidance includes a post-IFRS 16 net interest charge of £60m, a tax rate of 21% to give an adjusted earnings per share range of 53.5p to 59.0p. This is based on the exchange rates at 31 December 2018.

· Q1 net debt was down year-on-year at £0.5bn (2018: £0.6bn) on a pre-IFRS 16 basis. On a post-IFRS 16 basis, Q1 net debt was c.£1.2bn.

· We continue to accelerate our digital transformation with momentum in key structural growth opportunities and the launch of a suite of digital products and capabilities for the back to school period this year, including:


https://www.investegate.co.uk/pearson-p ... 00081687X/

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Re: Pearson (PSON)

#239418

Postby idpickering » July 26th, 2019, 7:16 am


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Re: Pearson (PSON)

#254007

Postby idpickering » September 26th, 2019, 8:12 am

Trading Statement here; https://www.investegate.co.uk/pearson-p ... 00147088N/

Pearson down 12% on market opening.

Ian.

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Re: Pearson (PSON)

#254058

Postby monabri » September 26th, 2019, 10:59 am

(No holding in PSON).

The update wasn't THAT bad to justify such a fall in the share price in a mid-table FTSE100 company, surely?

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Re: Pearson (PSON)

#254060

Postby tjh290633 » September 26th, 2019, 11:02 am

Having done the same for IMB, I also have looked at the share price of PSON since the end of 2013:

Year End   Share Price            Change
31/12/13 1341
31/12/14 1190 -11.26%
31/12/15 736 -38.15%
31/12/16 818.5 12.21%
31/12/17 736 -10.08%
31/12/18 935.4 27.50%
26/09/19 705.4 -24.83%


Not quite such a dive as IMB.

TJH

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Re: Pearson (PSON)

#271898

Postby idpickering » December 18th, 2019, 7:07 am

Disposal

Pearson agrees to sell remaining 25% stake in Penguin Random House to Bertelsmann, generating net proceeds of approximately $675m (£530m1), and announces a return of £350m to shareholders through a share buyback.


https://www.investegate.co.uk/pearson-p ... 00112420X/

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Re: Pearson (PSON)

#271992

Postby Breelander » December 18th, 2019, 1:45 pm

They have also announced that 'Pearson Plans Chief Executive Succession'

https://www.investegate.co.uk/pearson-p ... 00072418X/

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Re: Pearson (PSON)

#272167

Postby UncleEbenezer » December 18th, 2019, 10:07 pm

Breelander wrote:They have also announced that 'Pearson Plans Chief Executive Succession'

https://www.investegate.co.uk/pearson-p ... 00072418X/

Wot, so they'll find a worthy successor to Scardino?

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Re: Pearson (PSON)

#277761

Postby idpickering » January 16th, 2020, 7:11 am

Pearson January Trading Update (Unaudited)

Guidance met with underlying revenue flat and adjusted operating profit of c.£590m1 at guidance exchange rates.

· Underlying revenue in Core was up 5%, Growth up 4% offset by 3% decline in North America.

· Adjusted earnings per share of 57.5p - 59.0p1 reflecting one-off tax benefits and a lower finance charge as disclosed in Pearson's half year trading update.

Businesses generating 76% of revenue grew 4% in aggregate.

· Strong performance in structural growth opportunities, up 8% overall.

· Connections up 6% and global Online Program Management (OPM) up 10% due to good enrolment growth, Professional Certification (VUE) up 10% due to strong test volumes and ramp up of new contracts, and Pearson Test of English Academic (PTE-Academic) up 17% due to strong test volumes.

· The majority of wider courseware and assessment businesses stabilised.


https://www.investegate.co.uk/pearson-p ... 00089600Z/

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Re: Pearson (PSON)

#277813

Postby idpickering » January 16th, 2020, 10:41 am

Sally Johnson to succeed Coram Williams as Chief Financial Officer

Pearson plc today announces that Coram Williams, Group Chief Financial Officer (CFO), has informed the Board he will be leaving the company to take on a comparable role at a company based in Continental Europe. Sally Johnson, Deputy Chief Financial Officer of Pearson, will succeed Coram Williams as Chief Financial Officer on his departure. On her appointment, Sally will become an Executive Director on the Pearson Board.


https://www.investegate.co.uk/pearson-p ... 00119598Z/

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Re: Pearson (PSON)

#285788

Postby idpickering » February 21st, 2020, 7:13 am

Finals here; https://www.pearson.com/content/dam/one ... ncials.pdf

Also on HYP Practical for HYPer chat.

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Re: Pearson (PSON)

#293299

Postby idpickering » March 23rd, 2020, 7:09 am

Pearson COVID-19 and current trading update

As we manage the impact of the COVID-19 (coronavirus) pandemic on our business, and with the likelihood of prolonged uncertainty, the Pearson Board has decided it is prudent to pause our share buyback. As we announce this decision, we are also providing an update on the impact on trading, along with the measures we are taking to mitigate these impacts and satisfy the significant uptake in demand for online learning. These actions are underpinned by our strong financial position, with significant headroom on liquidity and scope for further cost savings.


https://www.investegate.co.uk/pearson-p ... 00111261H/

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Re: Pearson (PSON)

#302805

Postby idpickering » April 24th, 2020, 7:17 am

Trading Statement

Here; https://www.investegate.co.uk/pearson-p ... 00037236K/

Also on HYP Practical.

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Re: Pearson (PSON)

#328341

Postby idpickering » July 24th, 2020, 7:21 am


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Re: Pearson (PSON)

#335370

Postby idpickering » August 24th, 2020, 7:18 am

Pearson Appoints Andy Bird, CBE as Chief Executive

Pearson plc today announces the prospective appointment of Andy Bird as its new Chief Executive, starting on 19th October, 2020. It is intended that John Fallon will continue as Chief Executive until that date, when he will step down from the Board and remain as an advisor until the end of the year. Andy is currently a Non-Executive Director at Pearson plc and was appointed to the Board on 1st May, 2020.


https://www.investegate.co.uk/pearson-p ... 00098937W/

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Re: Pearson (PSON)

#347547

Postby idpickering » October 14th, 2020, 7:08 am

Trading Statement

Improving trend in Q3 with a strong performance in Global Online Learning; North American Courseware and Global Assessment in line with expectations; and International further impacted by COVID-19
• At the nine months, Group sales declined by 14% largely reflecting the continuing impact of COVID-19 and test centre and school closures in Global Assessment and International, and expected declines in North American Courseware.
• Global Online Learning sales grew 14% due to 41% enrolment growth in Virtual Schools for the academic year 2020/2021 and strong sales growth in Online Program Management (OPM) driven by undergraduate and international performance, partially offset by discontinued programs.
• Global Assessment sales declined 19% due to the impact of test centre closures in Professional Certification (Pearson VUE), cancellation of spring testing in US Student Assessment and school closures impacting Clinical Assessment.
• North American Courseware declined 14% with a stronger adoption performance in the Fall in US Higher Education Courseware and good growth in digital and subscription take up leading to the faster decline of higher priced package and print sales.
• International declined 24% due to the impact of COVID-19 and as the associated economic effects intensified in several key markets, predominantly affecting public and private spending on courseware and assessments.
• Pearson retains a strong balance sheet and significant financial headroom.

Execution of strategy on track with technology and platform development progressing well
• 41% increase in Virtual School enrolments for the academic year 2020/2021.
• OPM course enrolments increased 17% excluding discontinued programs and declined 10% including discontinued programs, with increased efficiencies in the student recruitment process and student acquisition costs following the operational changes made earlier this year.
• Launch of Pearson Pathways, a digital marketplace that provides learners with tailored recommendations for courses and credentials to help them achieve the skills they need for the job they require.
• Digital roadmap is on track with the launch of additional Revel titles and c.250 new eText titles on the Pearson Learning Platform.
• Accelerated shift to digital in US Higher Education Courseware with digital registrations including eBooks up by 9% showing signs of secondary market recapture, and print and bundle units sold into US Higher Education colleges down by 32%.

​2020 outlook
• After nine months Pearson is on track to deliver an outturn broadly in line with market expectations1. However, because of the pandemic, larger than usual uncertainties surround the fourth quarter, particularly in International.

https://www.investegate.co.uk/pearson-p ... 00069876B/

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Re: Pearson (PSON)

#378764

Postby idpickering » January 20th, 2021, 7:06 am

Pearson January Trading Update

Key highlights for the 12 months:
• Group sales declined by 10% and we expect to report adjusted operating profit in the range of £310m-£315m at an average USD:GBP exchange rate of 1.28; with portfolio changes, inflation and the trading impact of COVID-19 partially offset by restructuring savings.
• The challenging impact of COVID-19 has been felt most acutely across International and Global Assessment due to test centre and school closures, exam cancellations, reduced global mobility and international economic pressure on spending. It has accelerated demand for digital learning and performance in Global Online Learning has been strong. US Higher Education Courseware has performed in line with expectations, despite COVID-19.
• Global Online Learning sales grew 18% due to strong enrolments in new and existing schools in V irtual Schools and good sales growth in Online Program Management (OPM), with growth in continuing programs partially offset by discontinued programs.
• Global Assessment sales declined 14%, reflecting the impact of test centre closures during the lockdowns in H1 in Professional Certification, with pent up demand in the second half partly moderated by Q4 lockdowns. Cancellation of Spring testing impacted US Student Assessment and school closures impacted US Clinical Assessment.
• North American Courseware declined 13% with US Higher Education Courseware revenue down 12%, with good growth in digital registrations and eBooks and a further decline of higher priced package and print sales. At the end of 2020, over 70% of US Higher Education Courseware revenue was digital.
• International declined 19% due to school and test centre closures and the continuing impact of COVID-19 on public and private spending on courseware and assessments.


https://www.investegate.co.uk/pearson-p ... 00032367M/

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Re: Pearson (PSON)

#378767

Postby Dod101 » January 20th, 2021, 7:19 am

Like many companies in the coming reporting season it is going to be difficult to judge how well they are doing, trying to extract the effect oif Covid from the underlying trading. That seems to be the case with Pearson,

Dod

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Re: Pearson (PSON)

#381340

Postby tjh290633 » January 27th, 2021, 7:02 pm

All right, who lit the fuse?

PSON up 6% yesterday and 14% today, taking it to my weight limit.

Nothing obvious in the press, but something is a foot, apart from 12 inches.

Could be a candidate for trimming if the rise continues.

TJH


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