Pearson Posts Profit Rise But Warns on Outlook

Pearson PLC (PSON.LN) on Friday recorded a jump in full-year profit after earnings were boosted by the landmark sale of its trophy publishing assets, even as the education products specialist warned it faces a challenging outlook this year.

London-based Pearson said its 2015 net profit soared to 823 million pounds ($1.15 billion) from GBP471 million the prior year. Last year, it sold the Financial Times newspaper and its noncontrolling stake in the publisher of The Economist to fund its growth across global education, which includes textbooks in Western markets, digital learning programs and English-language schools.