Pearson reports 23% profit decline for 2013

PearsonPearson reported static revenues for 2013 but a significant decline in adjusted operating profit after restructuring charges. 2014 is expected to show more investment in the business with further restructuring charges. The Group forecasts benefits showing through from 2015 from the ongoing investment in digital and restructuring programs.

In Pearson’s Prelims announcement John Fallon, chief executive said: “We are in the middle of what we believe will be a short, but difficult, transition – one that through our combined investment and restructuring programs will drive a leaner, more cash generative, faster growing business from 2015.

“We are uniquely positioned to tackle some of the biggest challenges in global education including the transforming power of technology. I am particularly excited about the significant opportunity digital education offers for Pearson and the next generation of learners.”

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