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  Pearson Annual Report 1997    

Financial Data

   
 

Consolidated Profit Loss Account

For the year ended 31 December 1997

  1997 1996  
       
All Figures in Million Operating
Activities
Other Items Total Operating
Activities
Other Items Total Note
Sales      
Continuing operations 2,265.5 - 2,265.5 2,048.9 - 2,048.9  
Acquisitions 27.6 - 27.6 - - -  




  2,293.1 - 2,293.1 2,048.9 - 2,048.9  
Discontinued operations - - - 137.1 - 137.1  




Total sales 2,293.1 - 2,293.1 2,186.0 - 2,186.0 2
Cost of sales (1,114.2) - (1,114.2) (1,064.1) - (1,064.1) 3




Gross profit 1,178.9 - 1,178.9 1,121.9 - 1,121.9  
Net operating expenses - normal (863.1) - (863.1) (853.3) - (853.3) 3
Net operating expenses - exceptional (34.4) - (34.4) (40.4) (100.0) (140.4) 3
Net income from partnership and
associated undertakings
41.8 - 41.8 53.1 - 53.1 11




Operating Profit              
Continuing operations 320.9 - 320.9 247.6 (100.0) 147.6  
Acquisitions 2.3 - 2.3 - - -  




  323.2 - 323.3 247.6 (100.0) 147.6  
Discontinued operations - - - 33.7 - 33.7  




Total operating profit 323.2 - 323.2 281.3 (100.0) 181.3 2
Continuing operations:      
Profit/(loss) on sale of fixed assets - 23.0 23.0 - (14.1) (14.1) 4
Loss on sale of businesses
and associates
- (180.3) (180.3) - (1.9) (1.9) 5
Discontinued operations:      
Profit on sale of Westminster Press - - - - 231.3 231.3 5




Profit before interest 323.2 (157.3) 165.9 281.3 115.3 396.6  
Net interest payable (37.3) - (37.3) (29.5) - (29.5) 6
Loan stock redemption premium - - - - (10.3) (10.3) 6




Profit before taxation 285.9 (157.3) 128.6 251.8 105.0 356.8  
Taxation (84.1) (4.5) (88.6) (72.6) (36.0) (108.6) 7




Profit after taxation 201.8 (161.8) 40.0 179.2 69.0 248.2  
Equity minority interest (1.7) - (1.7) (7.7) - (7.7)  




Profit for the financial year 200.1 (161.8) 38.3 171.5 69.0 240.5  
Dividends on equity shares (112.4) - (112.4) (102.7) - (102.7) 8




Profit/(loss) retained 87.7 (161.8) (74.1) 68.8 69.0 137.8 22




Adjusted earnings/ total
earnings per equity share
34.9p (28.2p) 6.7p 30.6p 12.3p 42.9p  




Dividends per equity share 19.5p - 19.5p 18.0p - 18.0p 8




Average Number of shares (millions) 573.1 573.1 573.1 560.8 560.8 560.8  




Note: In order to show results from operating activities an adjusted earnings per equity se has been calculated which excludes profits/(losses) on the sale of fixed assets, businesses and associates (see notes 4 and 5), and in 1996, a loan stock redemption premium (see note 6) and the 100m exceptional charge for improper accounting at Penguin USA. The analysis of operating profit in 1996 between continuing and discontinued operations has been restated to reflect the allocation of central costs (see note 2).

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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