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  Pearson Annual Report 1997    

Five Year Summary

   
 

Part A

 

  1993 1994 1995 1996 1997






Sales          
Continuing operations 1,193.8 1,413.3 1,687.1 2,048.9 2,293.1
Discontinued operations 676.3 136.8 143.3 137.1 -






  1,870.1 1,550.1 1,830.4 2,186.0 2,293.1






Profits*          
Information 28.9 54.7 67.6 88.2 107.0
Education 53.6 43.8 22.9 60.2 60.5
Entertainment 66.5 128.7 108.5 (41.6) 112.6
Investment Banking 36.4 30.2 39.9 40.8 43.1






Continuing operations 185.4 257.4 238.9 147.6 323.2
Discontinued operations 30.7 15.0 20.7 33.7 -






Operating profit 216.1 272.4 259.6 181.3 323.2
Profit/(loss) on sale of fixed assets 4.4 26.4 123.4 (14.1) 23.0
Profit/(loss) on sale of businesses (68.4) 15.2 6.0 229.4 (180.3)
Provision on investment in BSkyB 71.4 - - - -






Profit before interest 223.5 314.0 389.0 396.6 165.9






Net interest payable (14.9) (16.2) (23.9) (29.5) (37.3)
Loan stock redemption premium - - - (10.3) -






Profit before taxation 208.6 297.8 365.1 356.8 128.6
Taxation (60.3) (74.3) (92.8) (108.6) (88.6)






Profit after taxation 148.3 223.5 272.3 248.2 40.0
Equity minority interests (0.3) (0.6) (11.3) (7.7) (1.7)






Profit for financial year 148.0 222.9 261.0 240.5 38.3






Earnings per equity share 27.0p 40.4p 47.1p 42.9p 6.7p






Adjusted earnings per equity share** 27.9p 34.1p 28.8p 30.6p 34.9p






Dividends per equity share 13.0p 15.0p 16.5p 18.0p 19.5p






Note:
* 'Corporate expenses less other incomes have been allocated to profit centres and, accordingly, prior year figures have been restated (see note note 2)
** Adjusted in accordance with "Consolidated Profit and Loss Account"

 

Part B

  1993 1994 1995 1996 1997
           
Capital employed          
Net assets 1,00.1 1,051.9 855.4 392.3 156.0
Deferred tax and other provisions 67.6 233.8 134.4 189.4 211.8
Net debt 1.3 146.4 63.4 430.4 707.1






  1,069.0 1,432.1 1,053.2 1,012.1 1,074.9






Culmulative goodwill written off 700.2 1,042.5 1,437.8 1,896.4 2,161.9






Gearing          
Debt / equity N/A 14% 7% 110% 453%
Debt / adjusted equity (including goodwill) N/A 7% 3% 19% 31%
Interest cover 15 times 17 times 11 times 6 times 9 times






Share statistics          
Equity shares - weighted average 547.6m 551.6m 554.4m 560.8m 573.1m
Share price - year end 608p 555p 624p 750p 791p
Share price - high 614p 725p 684p 760p 849p
Share price - low 356p 554p 543p 601p 665p






Average number employed          
Continuing operations 11,823 13,562 16,008 17,383 18,306
Discontinued operations 15,453 3,653 3,414 2,564 -






  27,276 17,215 19,422 19,947 18,306






 

1997 Annual Report
* Group summary
* Information
* Education
* Entertainment
* Investment banking
* Chairman's statement
* Chief Executive's review
* Financial Review
* Financial Policy
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Note of historical cost profits and losses
* Reconciliation of movements in equity shareholders' funds
* Principal subsidiaries and associates
* Five year summary
* Shareholder information
   
* Notes to the accounts
 

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