Pre-tax losses soar to £2.6bn as group – which is is selling Penguin Random House – is hit by slump in US textbook sales
Pearson has reported a pre-tax loss of £2.6bn for 2016, the biggest in its history, after a slump at its US education operation.
The world’s largest education publisher, which in January saw almost £2bn wiped from its stock market value after issuing its fifth profit warning in two years, reported the record loss after taking a £2.55bn non-cash charge for “impairment of goodwill reflecting trading pressures in our North American businesses”.
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