Trading Update - 'In Line with Expectations'
Pearson PLC
13 December 1999
TRADING UPDATE
Pearson plc, the international media company, today issued the following
annual update on current trading for the year ending 31 December.
In the second half of the year, Pearson is trading in line with expectations.
Pearson Education, in its first full year of trading since the Simon &
Schuster acquisition, is performing strongly. The US school business is
gaining market share; the US higher education and professional group is
building on its market leading position; and, while Asian and Latin American
markets are recovering only slowly, international operations are benefiting
from major efficiency gains. The Financial Times newspaper is increasing
sales in Europe and North America and, along with our business newspapers in
France and Spain, continues to capitalise on a buoyant advertising climate.
Elsewhere in the Financial Times group, FTAM, the specialist financial
information business, is benefiting from the successful integration of Thomson
Securities Information Services (TSIS), acquired earlier this year. The
Penguin group is sustaining the strong start it made to the year, capitalising
on more efficient operations and a stronger publishing schedule. Operating
profits at Pearson Television are also on course to meet expectations, with
the core production business continuing to prosper. The planned sale of
Pearson's stakes in the three Lazard houses, which are trading well, should be
completed early next year.
Pearson continues to step up investment in its Internet businesses. FT.com,
which is on track to exceed its traffic and revenue targets for the year, will
soon be transformed into a fully integrated, multi-channel global business
portal. FTYourMoney.com, a new UK personal finance website, is launched
today. Financial Times Deutschland, which will be both a newspaper and an
on-line service, will be launched on schedule, in the new year. Pearson
Education continues to develop a network which will integrate its websites and
online instruction through a portal offering distinct services to educators,
students and parents. And Pearson is making good progress in pursuing new
Internet and multi-media opportunities in the Spanish and Portuguese speaking
worlds.
The preliminary results will be announced on March 6; the annual report will
be published in early April; and the annual general meeting will be on May 12.
For further information:
John Fallon Pearson plc 44 171 411 2310
Benjamin Wegg-Prosser
Latest directors dealings
- 3 hours ago Oxford Nanopore Technologies
- 4 hours ago AVI Global Trust
- 4 hours ago LSL Property Services
- 4 hours ago Bluebird Merchant Ventures (DI)
- 4 hours ago Power Probe PLC