LONDON (dpa-AFX) - Pearson PLC (PSO) reported a loss before tax of 2.6 billion pounds for the year ended 31 December 2016 compared to a loss of 433 million pounds, previous year. Loss for the year from continuing operations widened to 2.3 billion pounds or 286.8 pence per share from a loss of 352 million pounds or 43.3 pence. Adjusted operating profit was 635 million pounds, down 21% in underlying terms. Adjusted earnings per share was 58.8 pence compared to 70.3 pence.
Fiscal year sales increased to 4.55 billion pounds from 4.47 billion pounds, a year ago. Sales were down 8% in underlying terms.
The Board of Pearson proposed a flat final dividend of 34 pence, which results in an overall 2016 dividend of 52 pence, flat on 2015, subject to shareholder approval.
For 2017, the Group's guidance range is for operating profit of 570 million to 630 million pounds, adjusted earnings per share of 48.5 pence to 55.5 pence. The Group noted that its 2017 early trading is in line with expectations.
Copyright RTT News/dpa-AFX