Feeds

Pearson profits fall on Net spend

Expensive business this Web stuff

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

Media group Pearson has unveiled its annual results and suffered a 17 per cent fall in profits, placed squarely at the Internet's gates. The company which owns the Financial Times, as well as a huge portfolio of education and media companies, invested £196 million on Internet enterprises during the year.

Sales climbed 16 per cent to £3.87 billion and excluding Internet enterprises, operating profit went up 17 per cent to £686 million. With the Internet investment included, profit fell from £402 million to £333 million - although this was slightly higher than expectations.

Internet investment was split £113 million to the FTGroup - financial data and the like, including www.ft.com, FTMarketWatch (an online personal finance site) and online version of its French and Spanish newspapers. The remaining £83 million went on its education Web sites, largely the Learning Network - a grand teaching resource. Sales from the Internet side of things reached £42 million.

Pearson said it expected FT.com to break even in 2002 - it has already mooted plans to charge for premium content, according to the Sunday Times - and the Learning Network to do so in 2003. The company expects Internet investment to be much lower this year.

Apart from this the company is looking good - record profits from its main arms and several integrations, dumpings and mergers. Out goes Lazard investment houses, in comes publisher Dorling Kindersley and Pearson TV was shaken all about.

However, despite the fine words regarding the Internet and its offspring, the company also chose today to announce a new WAP phone venture with Carphone Warehouse. WAP phones, as you probably know, are rubbish, but Pearson reckons that FT-branded phones, with up-to-date financial information, is a sure-fire winner. We'd love to believe it, but anyone that closely interested in markets will already be kitted up with bleepers, pagers and the like which offer much stock quotes in real time.

Even if the FT gets the information as fast as people are used to, it still has the nightmare WAP menu process to go through (connecting... connecting... connecting). When (if) 3G phones come on the market, a few years expertise could stand it in good stead. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.