Pearson FY21 Profit Down, Lifts Dividend; Says Confident For Further Growth In FY22, Beyond

(RTTNews) - Pearson Plc (PSON.L), a British publishing and education company, reported Friday that its fiscal 2021 profit declined to 160 million pounds from last year's 310 million pounds.

Earnings per share were 21.1 pence, down from 41.0 pence last year. Adjusted earnings per share were 34.9 pence, compared to 28.7 pence last year.

Sales increased 1 percent to 3.43 billion pounds from 3.40 billion pounds a year ago, reflecting underlying performance, portfolio changes and currency movements.

Sales grew 7 percent at Constant exchange rates, while underlying sales growth was 8 percent.

Further, the company proposed a final dividend of 14.2 pence, up from last year's 13.5 pence. This equates to a full year dividend of 20.5p, up from 19.5p last year.

Looking ahead, the company said it is confident for further growth in 2022 and beyond.

For 2022, the company projects further group revenue growth, with adjusted operating profit, interest and tax in line with current market expectations.

Further, the company expects to achieve mid-single digit revenue CAGR from 2022 to 2025 and for margins to remain relatively stable in the near term, improving by 2025 to mid-teens.