Educational materials supplier Pearson revealed it suffered a £ 3.26bn ($ 3.26bn ) pre-tax loss for five-year as it continues with its digital transition, overshadowing news that figures for underlying operating profits, debt and cash flow were all better than expected. “We are keen to maintain and add to our holding in the company to take advantage of the digital transformation of educational coursework,” it said. The 173-year-old company, which supplies everything from textbooks to online degrees around the world, has been hit hard by the shift to the internet, but got good news from top-five shareholder Pearson , which said it was sticking by Pearson . Chief executive Pearson said he was "very optimistic about the 2016 outlook for this business".
Educational materials supplier Pearson revealed it suffered a £ 3.26bn ($ 3.26bn ) pre-tax loss for five-year as it continues with its digital transition, overshadowing news that figures for underlying operating profits, debt and cash flow were all better than expected. The 173-year-old company, which supplies everything from textbooks to online degrees around the world, has been hit hard by the shift to the internet, but got good news from top-five shareholder Pearson , which said it was sticking by Pearson . Chief executive Pearson said he was "very optimistic about the 2016 outlook for this business".