All My Net Biz

Scardino, who turns 60 on Wednesday, said the group had made record profits in 2006 and told City analysts that earnings would be at the top end of their expectations.

She refused to comment on the growing bid rumours, which saw Pearson shares hit a four-and-a-half year high last week on reports that US private-equity group KKR was lining up a 7bn bid for the Penguin and Financial Times group.

City earnings-per-share forecasts had until today ranged from 36.1p to 40p. In headline profit terms, that would translate into profits of more than 500m, compared with 466m in 2005.

Scardino said: ‘A strong all-round performance in our key fourth-quarter selling season capped another very good year. All around Pearson, our investments in content and technology are paying off. Those advantages have produced Pearson’s highest-ever profit in 2006, and will bolster our future growth.’

Analysts said that, without making any forecast, she was clearly suggesting there is more to come, and any potential bidder would have to fight against a strong growth story.

Investors are sceptical about the KKR bid story, which some say has already been knocked down, particularly as an offer of 7bn is little ahead of today’s stock market value of 6.79bn and way behind some analysts’ break-up values for the businesses. But Scardino has come under pressure as she celebrates her 10th anniversary of running the business as the first lady of the FTSE 100.

Under her watch, various parts of the operation have had disappointing performances at different times, and the shares have risen by just 25% in a decade. They have put on 8% this month, butwere today down 5p at 836p.

Scardino claimed today that the business was firing on all cylinders. Pearson said in a trading statement ahead of full-year results at the end of next month that all its businesses had traded well in the fourth quarter. p I:11}

By far the largest section, Pearson Education, which runs and publishes school and college courses and exams in the US and UK, ‘ sustained its good revenue momentum and achieved further margin improvement, ahead of expectations’.

The statement said: ‘The Financial Times added circulation and advertising, and Penguin had a good year-end publishing and selling season.’

There had been some fears among analysts that book publisher Penguin may not have done so well following a profits warning last month from rival , which partly blamed a poor run-up to Christmas in the book trade.

Pearson said its tax rate in 2006 was likely to be 32%, at the lower end of its previous guidance of 32% to 34%.

It added that the $600m (304m) sale of its US outsourcing business to Veritas Capital was due to complete in the first three months of this year.

Other stories:
Yesterday’s trading: Pearson sell-off talk
Pearson finds 338m sell-off solution
Pearson on way to record for full year
What’s next on the menu?

Scardino, who turns 60 on Wednesday, said the group had made record profits in 2006 and told City analysts that earnings would be at the top end of their expectations.

She refused to comment on the growing bid rumours, which saw Pearson shares hit a four-and-a-half year high last week on reports that US private-equity group KKR was lining up a 7bn bid for the Penguin and Financial Times group.

City earnings-per-share forecasts had until today ranged from 36.1p to 40p. In headline profit terms, that would translate into profits of more than 500m, compared with 466m in 2005.

Scardino said: ‘A strong all-round performance in our key fourth-quarter selling season capped another very good year. All around Pearson, our investments in content and technology are paying off. Those advantages have produced Pearson’s highest-ever profit in 2006, and will bolster our future growth.’

Analysts said that, without making any forecast, she was clearly suggesting there is more to come, and any potential bidder would have to fight against a strong growth story.

Investors are sceptical about the KKR bid story, which some say has already been knocked down, particularly as an offer of 7bn is little ahead of today’s stock market value of 6.79bn and way behind some analysts’ break-up values for the businesses. But Scardino has come under pressure as she celebrates her 10th anniversary of running the business as the first lady of the FTSE 100.

Under her watch, various parts of the operation have had disappointing performances at different times, and the shares have risen by just 25% in a decade. They have put on 8% this month, butwere today down 5p at 836p.

Scardino claimed today that the business was firing on all cylinders. Pearson said in a trading statement ahead of full-year results at the end of next month that all its businesses had traded well in the fourth quarter. p I:11}

By far the largest section, Pearson Education, which runs and publishes school and college courses and exams in the US and UK, ‘ sustained its good revenue momentum and achieved further margin improvement, ahead of expectations’.

The statement said: ‘The Financial Times added circulation and advertising, and Penguin had a good year-end publishing and selling season.’

There had been some fears among analysts that book publisher Penguin may not have done so well following a profits warning last month from rival , which partly blamed a poor run-up to Christmas in the book trade.

Pearson said its tax rate in 2006 was likely to be 32%, at the lower end of its previous guidance of 32% to 34%.

It added that the $600m (304m) sale of its US outsourcing business to Veritas Capital was due to complete in the first three months of this year.

Other stories:
Yesterday’s trading: Pearson sell-off talk
Pearson finds 338m sell-off solution
Pearson on way to record for full year
What’s next on the menu?

Scardino, who turns 60 on Wednesday, said the group had made record profits in 2006 and told City analysts that earnings would be at the top end of their expectations.

She refused to comment on the growing bid rumours, which saw Pearson shares hit a four-and-a-half year high last week on reports that US private-equity group KKR was lining up a 7bn bid for the Penguin and Financial Times group.

City earnings-per-share forecasts had until today ranged from 36.1p to 40p. In headline profit terms, that would translate into profits of more than 500m, compared with 466m in 2005.

Scardino said: ‘A strong all-round performance in our key fourth-quarter selling season capped another very good year. All around Pearson, our investments in content and technology are paying off. Those advantages have produced Pearson’s highest-ever profit in 2006, and will bolster our future growth.’

Analysts said that, without making any forecast, she was clearly suggesting there is more to come, and any potential bidder would have to fight against a strong growth story.

Investors are sceptical about the KKR bid story, which some say has already been knocked down, particularly as an offer of 7bn is little ahead of today’s stock market value of 6.79bn and way behind some analysts’ break-up values for the businesses. But Scardino has come under pressure as she celebrates her 10th anniversary of running the business as the first lady of the FTSE 100.

Under her watch, various parts of the operation have had disappointing performances at different times, and the shares have risen by just 25% in a decade. They have put on 8% this month, butwere today down 5p at 836p.

Scardino claimed today that the business was firing on all cylinders. Pearson said in a trading statement ahead of full-year results at the end of next month that all its businesses had traded well in the fourth quarter. p I:11}

By far the largest section, Pearson Education, which runs and publishes school and college courses and exams in the US and UK, ‘ sustained its good revenue momentum and achieved further margin improvement, ahead of expectations’.

The statement said: ‘The Financial Times added circulation and advertising, and Penguin had a good year-end publishing and selling season.’

There had been some fears among analysts that book publisher Penguin may not have done so well following a profits warning last month from rival , which partly blamed a poor run-up to Christmas in the book trade.

Pearson said its tax rate in 2006 was likely to be 32%, at the lower end of its previous guidance of 32% to 34%.

It added that the $600m (304m) sale of its US outsourcing business to Veritas Capital was due to complete in the first three months of this year.

Other stories:
Yesterday’s trading: Pearson sell-off talk
Pearson finds 338m sell-off solution
Pearson on way to record for full year
What’s next on the menu?