Pearson Plc reports 18% sales decline for H1 FY2020

1 min read | July 24, 2020 09:25 PM BST | By Team Kalkine Media

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Pearson Plc (LON:PSON) has released its results for the six months to 30th June 2020.

The company reported that sales decreased by 18 per cent or £337 million in headline terms due to trading and disposals partially offset by forex. The decline largely reflects test centre and school closures in Global Assessment and International.
The adjusted operating profit declined by £167 million to a loss of £23 million as compared to a profit of £144 million in H1 2019. There was a profit impact of around £140 million from COVID-19.
The company has also reported that the available liquidity at the end of the period was around £1.6 billion.
On 24^th July 2020, at the time of writing, GMT 09:13 AM, PSON shares were trading at GBX 522.40, down by 27.60 points or 5.02% against the previous day closing price.

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