Pearson Share Discussion Threads

[james dean] 30/7/2007 08:28

Pearson confident for 2007 UPDATE


(Adds detail from results, CEO quote and closing share price)
LONDON (Thomson Financial) - Pearson, the UK media group, reported a 74 pct
rise in half-year profits and raised full-year guidance for part of its
education business, predicting that 2007 would be "another good year."
The world's largest education publisher, which also owns the Financial Times
and Penguin books, said adjusted pretax profit was 54 mln stg on underlying
revenue up 6 pct to 1.7 bln, in line with the average analysts' forecast.
Pearson, which makes most of its profits in the second half of the year from
the US education market, raised its full-year guidance for the professional
education business to 5-7 pct growth in underlying revenues, compared to
previous guidance of "broadly level".
Pearson also raised 2007 guidance for its technology research company IDC to
10-12 pct revenue growth.
"Our half-year results are always just a hint of our potential for the year,
but certainly a strong hint this year," Pearson chief executive Marjorie
Scardino said in a statement. "While our markets are changing fast, we are
continuing to innovate to stay ahead of that change. That dynamic strategy will
make 2007 another good year and makes this quality of performance sustainable."
Education sales increased by 7 pct, making a half-year profit of 5 mln stg,
while FT Group revenues rose 8 pct, helped by a 5 pct rise in advertising
revenues at the Financial Times.
Penguin revenues rose 1 pct, with profits up 11 pct.
Pearson shares closed at 770 pence on Friday, valuing the company at 6.22
bln stg.
[e-mail]
nh/jag

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[gateside] 30/7/2007 07:39

Pearson growth on target

Pearson, the UK media group, this morning reported an expected 74% rise in half-year profits.

The group raised full-year guidance for part of its education business, predicting that 2007 would be 'another good year.'

The world's largest education publisher, which also owns the Financial Times and Penguin books, said adjusted pretax profit was 54 mln stg on underlying revenue up 6% to £1.7bn, in line with the average analysts' forecast.

[james dean] 19/7/2007 09:52

Gateside -

Just a follow up on that item -


Yesterday's trading: Pearson pressure to do the splits
Karl West, Daily Mail
19 July 2007, 7:44am

Rupert Murdoch is no mug when it comes to buying media assets. So it can't be a huge surprise that his £2.5bn deal to buy Wall Street Journal owner Dow Jones has got City tongues wagging about the future of media group Pearson.

The Penguin books and Financial Times owner has previously shrugged off calls to break up the group. But a few recent deals could have Pearson chief Dame Marjorie Scardino fending off renewed pressure to split in order to realise its true value.
Analysts at Deutsche Bank demonstrated why, with a bullish 'sum of the parts' valuation on the stock of up to £10.2bn, or 1100p a share.

It believes that if Reed Elsevier can make around 18x its 2007 earnings from the sale of its Harcourt educational publishing assets, Pearson's schools and college business could be worth up to £7.2bn.

And now that Murdoch has given a timely pointer as to how top notch financial publishing assets should be valued, Pearson's own stable - the FT, Les Echoes, 50% in the Economist, plus others - could fetch £1.05bn. Its Penguin publishing arm is also thought to be worth another £1bn.

Mark Braley at Deutsche reckons Pearson's current share price, down 7½p at 823p, ' materially undervalues' the group. He added: 'There is a strong case for management to consider an aggressive restructuring of the portfolio.'

Regards.

DYOR.

[gateside] 18/7/2007 21:01

Deutsche Bank looks at the possibility of a break-up and comes up with a fairly racey valuation. Broker says: 'The only assets without recent "benchmarks" are Penguin and Professional.
'If we assume that (structurally) weak Penguin is worth 8x EBITA and the faster growth Professional 13x, these assets combined would be worth £1.15bn.
'This gives a group EV sum of the parts of £10.2bn, or an equity value of £11 / share.'

[james dean] 17/7/2007 08:43

Cisco and Pearson VUE Chart New Course in IT Certification to Grow Global Networking Talent


Cisco® and Pearson VUE announced they are teaming to create a new standard for individual information technology (IT) certifications, elevating them to the level of professional certification and licensure programs. Beginning Aug. 1, Pearson VUE will be the primary vendor of Cisco certification exams worldwide. Cisco CCNA® and CCIE® are two of the Cisco professional certification exams that will be delivered through Pearson VUE. Additionally, Pearson VUE will deliver other Cisco individual technical certifications and specialization exams previously delivered by multiple test-delivery companies.

"We are investing heavily in Cisco educational initiatives around the world to ensure proper coverage of technical skills for our customers, our partners and ourselves," said Jeanne Beliveau-Dunn, senior director of Learning@Cisco. "Our overall goal for developing technical talent is to have the right people, in the right place, at the right time so that our customers and partners have the best possible experience with our technology. We're confident that as a result of this collaboration, Cisco certifications will continue to be highly regarded and relevant to employers across the globe." To meet global demand, Cisco is moving to a primary-vendor strategy with Pearson VUE so that the two organizations can mutually expand their investments. This focused relationship will enable Cisco and Pearson VUE together to build a stronger infrastructure that will provide the following benefits: Further innovation in technology to preserve the integrity and security of individual certification testing, thereby preserving the value of certification to employers Better market penetration into remote locations, as well as concentrated marketing outreach and recruitment efforts Greater convenience for Cisco customers and partners in testing locations (both mobile and fixed) "Our certification strategy and its related partnerships are critical to achieving our objective," continued Beliveau-Dunn. "We are dramatically expanding Cisco's technical certification systems by improving the delivery of cutting-edge technical training curricula, developing professional learning communities, expanding global coverage and aggressively improving certification security worldwide. Ultimately, this will help in the recruitment and retention of solid technical talent as well as increase the overall brand value of Cisco certifications." The Cisco and Pearson VUE collaboration will take advantage of advances in technology to offer an unprecedented level of exam content protection, while at the same time greatly enhancing the ability to deliver exams at remote locations. One very visible innovation will be the worldwide use of advanced layered biometrics. In addition, the two companies will hold regular technology and security summits to discuss ongoing enhancements to Cisco's program.

"Pearson VUE has robust security measures in place at its global testing centers and we constantly evaluate our processes and technology to ensure we're staying one step ahead of the industry in protecting the integrity of the exams we deliver," said Robert Whelan, president of Pearson VUE. "We're working closely with Cisco to develop new processes that will not only safeguard Cisco's exams, but those of our other test sponsors as well. We're thrilled to be partnering with Cisco on this new initiative and we look forward to a long and successful relationship." About Cisco Systems Cisco, (NASDAQ:CSCO), is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at For ongoing news, please go to

About Pearson VUE Pearson VUE (www.pearsonvue.com) is the global leader in testing services for academic admissions, certification and licensure programs. Pearson VUE offers exams through the world's largest network of test centers in 162 countries, providing testing services for information technology, regulatory and certification boards, academic, government, and corporate clients. Its innovative technology offers the security and control required by academic, licensure, and certification programs, while its commitment to service provides customers with an unmatched testing experience. In January 2006, Pearson acquired Promissor, which is now a business of Pearson VUE, extending its leadership in the testing and certification industry.

Pearson VUE is a business of Pearson (NYSE:PSO)(LSE:PSON), the international media company, whose businesses include the Financial Times Group, Pearson Education, and the Penguin Group.

Cisco, the Cisco logo, CCIE, CCNA and Cisco Systems are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information

Regards.

Mrs JD

DYOR.

[james dean] 17/7/2007 08:40

Nice to see movement in the right direction again.

Regards.

Mrs JD

DYOR.

[gateside] 14/7/2007 08:22

Pearson won't bite as Fimalac offers €245m for 'Les Echos'
By Kevin Rawlinson in Paris
Published: 13 July 2007
Fimalac, the financial services group behind the credit rating agency Fitch, tabled a €245m (£166m) bid for the French newspaper Les Echos yesterday, trumping an offer from the billionaire Bernard Arnault.

But to the dismay of journalists on the newspaper, Les Echos' owner Pearson said it was maintaining exclusive negotiations with M. Arnault's luxury-goods company LVMH. The Fimalac bid is €5m higher than that by LVMH.

"We're aware of the offer... but point out that we are in exclusive talks with LVMH," a spokesman for Pearson, which also owns the Financial Times, said yesterday.

Fimalac said its offer stood until 31 December while M. Arnault's exclusivity period with Pearson runs until November.

Les Echos journalists have been on strike three times in recent weeks to protest against an LVMH takeover which they see as a threat to their editorial freedom. LVMH is controlled by M. Arnault, France's richest man, who is a close friend of President Nicolas Sarkozy.

The new bidder has guaranteed that it would safeguard jobs and ensure editorial independence. It also said it would appoint the editor-in-chief of Les Echos with the support of at least 55 per cent of the journalists. Yesterday, journalists on the business newspaper voted overwhelmingly to endorse the Fimalac approach over LVMH's offer. One hundred and ninety voted "for" and one vote was spoiled.

Les Echos staff are worried that ownership by a dominant French company like LVMH would compromise their credibility. They also fear that the title could become a vehicle for Sarkozyste economic propaganda. They described assurances by LVMH that editorial independence would be guaranteed as a "charade".

President Sarkozy has faced criticism, particularly during his presidential election campaign, for using his close friendships with owners of media groups to manipulate news coverage.

However, analysts were wary at the price Fimalac is proposing. "This is a very high price even if Fimalac, already present in the financial information sector, can generate synergies," one Paris-based analyst said. "One wonders about the value of Les Echos as a standalone unit without the financial backing and power of the Financial Times."

[gateside] 12/7/2007 12:43

PARIS (Thomson Financial) - Fimalac, owner of the Fitch credit ratings agency, submitted an offer to buy Les Echos Group from Pearson for 245 mln eur.

It said it made the offer in response to a request from the senior editorial team of the French financial daily.

Fimalac pledged no layoffs and promised it will guarantee editorial independence. The managing editor would be appointed on the recommendation of Fimalac with the approval of at least 55 pct of the journalists' votes, the company said.

The offer, which is subject to approval by a majority of Les Echos journalists, is valid until Dec 31.

'Acquisition of Les Echos Group would enable Fimalac to extend its presence in the financial and business information sector, where it is already a leading player through the Fitch agency and the Algorithmics enterprise risk solutions provider,' it said.

A Pearson spokesman said the company is in the process of considering a sale of Les Echos and is in exclusive negotiations with French luxury goods group LVMH Moet-Hennessy Louis Vuitton.

LVMH had no immediate reaction to Fimalac's announcement.

LVMH said last month it is in talks with Pearson to buy Les Echos Group, which produces the newspaper, its website and other financial data. LVMH has reportedly offered 240 mln eur.

Journalists at Les Echos have held strikes in protest at the proposed purchase by LVMH.

Staff have also held strikes at rival French business newspaper La Tribune, which is already owned by LMVH but which it is said to be considering selling.

Groupe Les Echos had sales of 126 mln eur in 2006 and 10 mln eur in operating profits.

Fimalac shares rose after the bid was announced and at 12.37 pm were up 0.75 eur or 1.10 pct at 68.58 eur, having reached as high as 69.46.

[gateside] 06/7/2007 10:18

Interim Results due on 30th July

[bigbury] 25/6/2007 14:54

think its a long term hold this one but wouldn't be suprised to see ft sold off over next 12months

[bigbury] 22/6/2007 13:35

so not bidding for dow jones-as expected--now break up talk on pearson should begin

[bigbury] 18/6/2007 16:03

yep A Gowers it was

[bigbury] 18/6/2007 15:51

not sure-maybe still on internet site bbc/radio4--anyways i think its too big for them and too expensive--may alert someone to run the slide rule over themselves

[chairman2] 18/6/2007 09:23

bigbury was that Andrew Gowers?

If it was - he knows nothing - left FT not exactly flavour of the month
unlike previous editors Geoff Owen and Richard Lambert.

[bigbury] 18/6/2007 09:20

radio4-ex ft editor,i think,said unlikely will bid--so a recovery maybe later

[chairman2] 06/6/2007 17:12

The halo from the Dow Jones saga is looking increasingly tarnished

[bankroll] 14/5/2007 15:31

Ah, the heady days during the Tech Boom when they were over £26.00 will never be seen again!

Come back Frank Barlow, all is forgiven. They were always rock solid when the company was 'A rich man's play thing' of diverse parts.

What has Marje done for this one's SP, apart from sweet FA and flogging the 'Family silver'?

[james dean] 14/5/2007 13:48

mm -

I think you could be right.

Regards.

DYOR.

[maiseymouse] 14/5/2007 12:45

i think it is only a mtter if time befoe the big break up happens. see the brokers are lining up to go posiitve

[loss-leader] 14/5/2007 08:04

strong start today .. what's up? ll

[maiseymouse] 08/5/2007 06:59

interesting comments from merril