Pearson has reported a massive pre-tax loss for the year of £2.6bn, including a goodwill impairment, following the challenges it has been facing in the US education market. The company, which in January delivered its fifth profit warning in four years, also reported a sharp rise in debt to £1,092m (2015: £654m). Meanwhile, Penguin Random House adjusted operating profits for Pearson's 47% stake in the trade publisher were £129m for 2016, up 43% in terms of headline growth (23% in underlying growth) from £90m in 2015. Continue reading at 'The Bookseller'
[ The Bookseller | 2017-02-25 00:00:00 UTC ]
Pearson intends to sell its 47% stake in Penguin Random House and will be issuing an "exit notice" to its joint venture partner Bertelsmann, which holds a majority 53% stake in the group. Bertelsmann has responded by saying it is "open" to increasing its share in the world’s biggest trade... Continue reading at The Bookseller
[ The Bookseller | 2017-01-18 00:00:00 UTC ]
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The FTSE 100 remains in positive territory despite a 30% plunge in Pearson shares after the education publisher issues a profit warning. Continue reading at BBC News
[ BBC News | 2017-01-18 00:00:00 UTC ]
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Faced with worse-than-expected results in its North American higher education publishing business, Pearson said this morning that it is putting its 47% stake in Penguin Random House up for sale. Continue reading at Publishers Weekly
[ Publishers Weekly | 2017-01-18 00:00:00 UTC ]
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Pearson, which has a 47% stake in Penguin Random House, reported that Increased benefits from the integration of Penguin and Random House offset "reduced demand" for ebooks. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-07-29 00:00:00 UTC ]
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We're going to hear a lot about comparable metrics this year -- finally. As emerging media platforms continue to dominate the headlines -- creating the perception that ad tech is where all the audience is -- smart advertisers will insist on a lens through which the avalanche of charts, claims,... Continue reading at Advertising Age
[ Advertising Age | 2016-01-28 00:00:00 UTC ]
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World’s biggest education publisher aims to make £350m in cost savings by the end of 2017Pearson is to cut 4,000 jobs after issuing its second profit warning in three months. The world’s biggest education publisher said it aimed for annual savings of £350m by the end of 2017 and it would end its... Continue reading at The Guardian
[ The Guardian | 2016-01-21 00:00:00 UTC ]
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Haynes Publishing Group saw an 11% revenue drop for the 12 months to end May 2015 at £26.1m, down from £29.3m the year before. Adjusted EBITDA at the car manuals publisher was down 20% to £8.7m (£10.9m in the year to end May 2014) while operating profit fell 35.5% to to £3.1m (from... Continue reading at The Bookseller
[ The Bookseller | 2015-09-25 00:00:00 UTC ]
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The sharp rise in mobile readership has forced publishers to ask themselves hard questions about their site performance. Joining the likes of GQ and The Washington Post, Vox Media has taken a hard look at its page load time, cutting it in half to an average of 11.5 seconds. Vox did this by... Continue reading at Digiday
[ Digiday | 2015-08-26 00:00:00 UTC ]
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Local newspaper publisher reports operating profits down 4.3% to £27m in first half to 3 July, but digital audience grows by more than 20%Johnston Press has said it has seen an improvement in trading since issuing a warning to investors that sent its shares tumbling last month, although ad... Continue reading at The Guardian
[ The Guardian | 2015-08-11 00:00:00 UTC ]
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Mills & Boon has seen a sharp rise in sales of its ebooks after Kobo matched W H Smith’s in-store offer online. W H Smith has been running a “five for the price of four” offer on Mills & Boon titles throughout February, and its digital partner Kobo applied the offer to the same titles’... Continue reading at The Bookseller
[ The Bookseller | 2015-03-03 00:00:00 UTC ]
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Pearson reported 2014 earnings of £69 million, after taxes, from its 47% stake in Penguin Random House. For the year Pearson reported total revenues of £4.8 billion and operating earnings of £720 million. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-02-27 00:00:00 UTC ]
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Haynes Publishing Group has issued a profit warning, citing "soft" trade and tighter inventory controls from retailers. The car manuals publisher said its half year results, which will be posted at the end of January, will be "seriously impacted" by "key consumer retailers implementing working... Continue reading at The Bookseller
[ The Bookseller | 2014-12-23 00:00:00 UTC ]
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Cambridge University Press has reported a sales increase of 5% at constant currency rates in the... Continue reading at The Bookseller
[ The Bookseller | 2014-08-19 00:00:00 UTC ]
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Pearson said that it booked adjusted operating profit of 18 million pounds for its 47% stake in Penguin Random House compared to 28 million pounds in the first six months of 2013. Continue reading at Publishers Weekly
[ Publishers Weekly | 2014-07-25 00:00:00 UTC ]
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YUDU Media is to make a push into the education market with the launch of YUDU Education, a new... Continue reading at The Bookseller
[ The Bookseller | 2012-09-24 00:00:00 UTC ]
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The educational and trade publisher, financially troubled for several years, has agreed with most of its senior lenders and bondholders to a restructuring that would convert existing long-term debt to equity. Continue reading at The New York Times
[ The New York Times | 2012-05-11 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 05/04/2011 - 09:39 The struggling HMV Group has bought more time to pass covenant tests while issuing a third profit warning. The group, which owns Waterstone's, said "trading conditions have remained difficult" since it issued its last profit... Continue reading at The Bookseller
[ The Bookseller | 2011-04-05 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Tue, 01/03/2011 - 09:28 The HMV Group has issued its second profit warning of the year and will breach a bank covenant test when it announces full year results in April. read more Continue reading at The Bookseller
[ The Bookseller | 2011-03-01 00:00:00 UTC ]
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