Educational materials supplier Pearson revealed it suffered a £2.6bn ($3.26bn) pre-tax loss for 2016 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 firm has announced plans to move more aggressively into ebooks by slashing prices and will launch a print rental programme. 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 Lindsell Train, which said it was sticking by Pearson. In an interview on BBC Radio 4’s
Educational materials supplier Pearson revealed it suffered a £2.6bn ($3.26bn) pre-tax loss for 2016 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 Lindsell Train, which said it was sticking by Pearson. In an interview on BBC Radio 4’s