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Pearson released a decent Q3 trading update thanks to the very strong dynamism in Pearson VUE and PTE sale offsetting the Higher Education division which continues to suffer. This publication was welcomed by the markets due to the upwards revision to the guidance.
Companies: Pearson PLC
AlphaValue
Pearson delivered decent results in H1 23 with consensus-beating revenue and operating profit in line. (Generative) Artificial Intelligence was at the heart of this earnings release but for the moment there is no materiality in one sense or the other. The group reaffirmed its guidance for FY23 and its mid-term outlook.
Following a good Q1 23 trading update, Pearson reaffirmed its guidance and announced a share buyback programme of £350m starting in H2 23. On May, 2 Pearson was rocked by negative inferences from GPTs on Chegg’s business
Pearson’s stock is down 2% after the FY22 report. Profits posted an increase although Higher Education declined. The FY dividend was raised. The share buy-back programme of £350m in FY22 went smoothly but was not exceeded unlike for many of the peers.
Pearson is up as much as +10% today after issuing a reassuring 9-month 2022 trading update, stating that it is “confident of being able to navigate the challenging macro-economic environment”. The FY22e guidance was re-affirmed. After FY21, Q1 22, and H1 22 updates, this is the fourth publication that has been acclaimed by investors, giving increasing credibility to the group’s digital transformation.
Pearson was up as much as 12% today after reporting better-than-expected H1 22 results. The company said that it will meet its FY25 guidance two years in advance, i.e. in FY23, thanks to £100m in cost savings identified (synergies and efficiencies from the recent reorganisation). Again, a very pleasant surprise.
Pearson’s stock is up 3% following an encouraging Q1 22 trading update in which the company reaffirmed its guidance and announced a promising acquisition.
Pearson’s stock is up 12% after the company confirmed its recent FY21 estimates and raised its FY dividend. Investors also welcomed an unexpected £350m share buy-back programme for FY22e.
Pearson issued a very satisfactory trading update (FY21 unaudited figures), highlighting a strong top- and bottom-line performance, ahead of expectations, as well as a robust financial position. Although Higher Education continued to decline, it did so at a slower rate than anticipated.
Pearson shares are down 12% this morning following the publication of the group’s 9-month trading update. The drop in Higher Education has dampened investors’ confidence.
Pearson published satisfactory H1 results, with revenues and adjusted OP above expectations. However, as international markets are reopening more slowly than anticipated due to new COVID-19 variants, the group left its FY21e guidance unchanged. The strategic review of international courseware local publishing businesses launched in March is now largely complete.
Pearson published an encouraging Q1 21 trading update, with revenues up 5% organically despite tough comparisons. The FY21e guidance remains unchanged.
Pearson confirmed its recent FY20 estimates (see our Latest, 20/01/2021), reporting in line figures (-10% organic growth, adjusted OP: £313m, adjusted EPS: 28.7p). Final dividend is unchanged at 13.5p. Positive outlook: Despite a tough FY20, the group forecasts a return to revenue growth from Q2 21 and adjusted OP to be in line with current market expectations. Pearson also announced plans to cut office space and a new reorganisation into five divisions in FY21e at a cost of £40-70m.
Pearson’s 2020 trading update is in line with a 10% organic sales decline and adjusted operating profit in the range of £310-315m (AV at £309m). Global Online Learning (+30% in Q4) pulled the group due to the wave of distance learning. The pandemic still clouds visibility.
Pearson’s 9-month trading update highlighted that the rising digital activities were unable to offset the test centre and school closures linked to COVID-19. The group’s solid financial position remains a positive point to retain. We are likely to raise our forecasts considering our below average expectations but expect to reiterate our cautious view on the stock.
Research Tree provides access to ongoing research coverage, media content and regulatory news on Pearson PLC. We currently have 0 research reports from 7 professional analysts.
Brave Bison has released its FY23A results which are in-line with the upgraded expectations at the recent trading update. The acquisition of SocialChain has transformed The Group’s offering in the fast-growing social and influencer segment of the market leaving it well-positioned for the expected pick-up in marketing spend in 2024. Management have continued to drive operational efficiencies in The Group, for example rolling out an advanced resource planning tool, which has contributed to Adj EPS
Companies: Brave Bison Group Plc
Cavendish
Companies: FOG PHC FEN BBSN ELIX
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Liberum
22nd April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARV CTL AFRN FEN HUW TENG BBSN EAAS VAL
Hybridan
Resilient growth in core markets: Revenue of £67.5m is +7.5% YOY (FY22: £62.8m) and +0.7% vs. Zeus estimate of £67.0m, with growth across Direct and Indirect divisions benefitting from increased activity with new and existing clients.
Companies: LBG Media Plc
Zeus Capital
S4 Capital had a difficult FY23, as flagged, with reduced client confidence and spend, particularly from those clients in the tech sector, and on larger transformation projects. Management is cautious in the short term, with no substantive changes likely in H124, but sees conditions likely to improve in H224 as economic pressures ease. The group’s longer-term prospects should be buoyed by its positioning across data and digital marketing and, in particular, in incorporating AI into hyper-persona
Companies: S4 Capital plc
Edison
While 2.5% revenue growth and 6.1% EBIT growth is relatively pedestrian by Next 15’s historic track record, we see the last year as one of the most impressive reported by Next 15. Revenue growth and margin expansion has been delivered in the face of a significant slowdown in demand from the group’s historic core technology sector clients. We believe a number of factors are in play here, not least the growing diversity of Next 15’s client and business mix as a result of M&A over the last th
Companies: Next 15 Group plc
H2 Radnor
Companies: Time Out Group PLC
Team Internet’s FY23 results exceeded our forecasts and consensus on revenue and EBITDA. Online Marketing was driven by increased consumer engagement, reflecting investment in delivering more targeted ads across a wider array of channels. The group’s latest acquisition, Shinez, strengthens Online Marketing via diversification of publishers and is earnings accretive with scope for further synergies. Online Presence returned to strong revenue growth, driven by demand for exotic domains, pricing op
Companies: Team Internet Group plc
Next 15 Group's net revenues grew 2.5% in the year to January, despite difficult markets. Adjusted operating margin rose from 20.2% to 21.0%, helped by head office cost savings. In common with much of the sector, spending by tech clients was soft, down 17% like-for-like. The group did well, though, in growing spend from non-tech clients, up 11%, making for a strong overall performance in a market beset by ongoing macro uncertainty. Next 15 has been building its AI capabilities for some time and
Companies: STV Group plc
Shore Capital
Team Internet’s FY23 results confirmed another strong year of trading from its Online Marketing and Online Presence businesses. Both revenue and EBITDA growth remained in double digits, margins on net revenue continued to improve, and cash conversion remained strong. We continue to believe that the Group has substantial long-term growth opportunities including international expansion, new partner development, and vertical integration. In our view, Team Internet’s strong track record, cash genera
Brave Bison has released its interim results for the period ending June 2023. The update shows the SocialChain integration has been materially completed, with synergies mostly realised and new client wins taking place as a combined business. Gross revenue increased 15% YoY to £16.9m and net revenue increased 23% to £10m, both driven primarily by the new contribution from SocialChain. Adj EBITDA increased by 20% to £1.9m and Adj PBT increased 16% to £1.5m, both in-line with expectations. We have
Jaywing is a UK marketing services company with a clearly differentiated market position in data science. Core, is the delivery of behavioural insights and algorithms to enhance the roi of clients marketing and customer experience programmes and, in a highly personalised way. The acquisition of search marketing specialist Epiphany in March 2014 was strategically transformative, giving Jaywing a profitable growth platform as well as consolidating its leading position in digital data and online m
Companies: Jaywing plc
Capital Access Group
Brave Bison has raised £4.75m of equity capital at 2.3p, to help fund an acquisition of a complementary business, called Social Chain. The target will bring significant brand recognition and cross-selling opportunities to blue-chip clients. We forecast an increase in FY23E revenues of £12.4m to £42.9m, a £1.0m increase in Adj EBITDA to £4.1m and an 11% increase in Adj EPS from 0.22p to 0.25p. Post-acquisition, Brave Bison would trade on a discount to the peer group median across EV/Sales, EV/EBI
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