Half Year 2019 Pearson PLC Earnings Call Transcript
Hello, and welcome to the Pearson Interim Results Presentation Analyst Call. (Operator Instructions) Just to remind you, this conference is being recorded.
I'll now hand to our hosts, John Fallon, CEO; and Coram Williams, CFO. Gentlemen, please begin.
Well, hi, good morning, everybody. Thanks for joining us. As you heard, it's John Fallon here and I've got Coram with me. These, as you can see, are a strong set of half-year figures. Underlying sales are up 2%, profits up 30%, operating cash flow is also stronger with a further reduction in net debt, underpinning our continued investment in building a better more digitally powered business. A 9% increase in the interim dividend is in line with our commitment to a sustainable and progressive dividend policy.
The results reflect the ongoing shift in the dynamics of the business. Through digital transformation, we're seeing the ongoing recovery in our courseware and assessment businesses, down only 1% on prior year, and sales from our
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