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Pearson 4 Communacopia XII

Pearson 4 Communacopia XII. 1 October, 2003. Professional 19%. FT Group 17%. Higher Education 18%. Penguin 19%. School 27%. Financial priorities. Deliver steady earnings growth Improve cash generation Improve return on invested capital. Outlook 2003.

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Pearson 4 Communacopia XII

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  1. Pearson 4 Communacopia XII 1 October, 2003

  2. Professional 19% FTGroup 17% Higher Education 18% Penguin 19% School 27%

  3. Financial priorities • Deliver steady earnings growth • Improve cash generation • Improve return on invested capital

  4. Outlook 2003 • Steady growth at Penguin, Higher Ed, IDC • Strong competitive performance in flat US School market • Professional affected by TSA; underlying business growing • Advertising and technology markets still tough; further cost actions

  5. Looking ahead . . . • Steady growth in Penguin, Higher Ed, IDC • Slow adoption year in ’04; strong rebound in ’05 / ’06 • School operations benefit from No Child Left Behind • Business newspapers highly geared to ad recovery

  6. Attractive markets Leading positions Efficiency gains Our agenda

  7. Attractive markets • IDC counters ad cycle in business information • 0-3% growth in consumer publishing • Faster growth in niche categories • 5-7% growth in K-16 publishing • Faster growth in testing, software, ELT

  8. US School: No Child Left Behind

  9. Attractive markets • Rising demand for English as a 2nd language • Surge in Federal government testing and training • Trend to customisation • Growth in children’s publishing

  10. Higher Education: growth in custom Sales $m

  11. Attractive markets Leading positions Efficiency gains Our agenda

  12. Leading positions #1 in K-16 education publishing #1 in education testing & software #1 in international education #1 or #2 in English language markets worldwide The leading international and national business newspapers

  13. US School: #1 in new adoptions

  14. US College: still beating the market % change in Higher Ed gross sales vs. prior year +8.6% +0.3% SOURCE: MANAGEMENT PRACTICE DATA

  15. The FT’s international expansionCirculation ’000s 478 467 459 414 Asia 353 332 USA 302 Europe UK

  16. Attractive markets Leading positions Efficiency gains Our agenda

  17. Efficiency gains • Managing costs aggressively • Driving down working capital • Integrating Pearson Education and Penguin

  18. The world’s largest book company Estimated 2001 book revenues ($m) Pearson McGraw Hill Bertelsmann Scholastic Holtzbrinck News Corp(HarperCollins) Houghton Mifflin Harcourt / Reed Source: annual reports, analyst reports Note: 2001 median GBP / USD exchange rate = 1.45

  19. Attractive markets • Leading positions • Efficiency gains . . . to deliver steady annual progress in earnings, cash and returns

  20. Pearson 4 Communacopia XII

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