Pearson 2020 Preliminary Results and strategy update (Unaudited)
Resilience despite COVID-19 challenges. Repositioning Pearson for sustainable growth.
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Highlights
Underlying revenue declined 10%.
Global Assessment 14% lower, and International down 19%.
North American Courseware down 13%, with US Higher Education Courseware in line with pre-COVID expectations.
Performance in line with revised expectations post COVID-19;
with adjusted operating profit of £313m (2019: £581m)
Adjusted earnings per share of 28.7p (2019: 57.8p) after an effective tax rate charge of 13.7% (2019: 16.5%).
Strong balance sheet and cash performance
Operating cash flow of £315m (2019: £418m) with a conversion rate of 101% reflects lower profit partially offset by good working capital management.
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LONDON BRIEFING: Biden To Push US Stimulus Programme As Takes Office
Wed, 20th Jan 2021 08:06
(Alliance News) - Joe Biden will be inaugurated as the 46th president of the US on Wednesday, capping off a chaotic election season in a country still divided by Donald Trump s unfounded claims of voter fraud.
The inauguration ceremony will start at 10:30 am in Washington - 1530 GMT - with Biden and incoming vice president Kamala Harris sworn into office at noon.
Hundreds of thousands of people usually attend the ceremony, but this time around there will only be a small crowd due to the ongoing coronavirus pandemic that has now killed more than 400,000 Americans. Security precautions have also been bolstered after rioters supporting outgoing president Trump stormed the Capitol earlier this month.
Top UK Stocks to Watch: Burberry proves resilient during pandemic
Joshua Warner January 20, 2021 9:45 AM
Burberry sales are knocked by lockdown, Pearson warns profits will fall by over 45%, Hochschild says it will significantly raise output this year, and Wetherspoon raises funds as pubs remain closed. Share:
Top News: Burberry sales knocked as store sales suffer during lockdown
Luxury fashion retailer Burberry said store sales fell 9% in the third quarter of its financial year as some of its outlets remain closed because of lockdown restrictions.
The company said comparable store sales were down 9% in the 13 weeks to December 26, pushing revenue down to £688 million from £719 million the year before. Burberry saw ‘high single-digit growth’ in full-price sales but this was offset by some stores having to close. It said 62 sto