Pearson result 'good news' for shareholders

Pearson result 'good news' for shareholders

<p>Pearson&#39;s share price rose more than 5% yesterday (26th July) with a strong first-half helping to push the share price beyond &pound;10, after the group posted a 79% increase in adjusted operating profit to &pound;178m.<br /><br />Commentators and analysts welcomed the results, with good performances from Pearson Education, Penguin and the <em>Financial Times</em>. <em>The Independent&#39;</em>s Investment column raised the share&#39;s status to a &quot;buy&quot;, commenting: &quot;The good news for shareholders is that Pearson tends to generate the majority of its profits in the second half, even though yesterday it was striking a cautionary note, given the uncertainty in the market.&quot;<br /><br /><em>The Daily Mail </em>reports that Pearson is hoping to profit from the government&#39;s free schools initiative, sparking a fresh debate about the privatisation of education. Chief executive Marjorie Scardino said: &quot;One of [Education Secretary] Michael Gove&#39;s biggest programmes is free schools and we would seek to help those schools, help train the teachers, write the curriculum for them, help them choose what books they want to buy.&quot;<br /><br />It also notes that Scardino dropped a strong hint that she was preparing a successor to replace her. Scardino said that while she still enjoyed her role at Pearson, there were &#39;multiple candidates&#39; for her job. The <em>Mail</em> points to finance director Rona Fairhead and FT chief executive John Ridding are seen as the leading internal candidates. <em>The Evening Standard</em> has a slightly different quote attributed to Scardino: &ldquo;I am preparing a successor, as I am for all the top jobs at Pearson.&rdquo;</p>