Pearson posts 5 percent rise in 2014 profit as restructuring ends

LONDON, Feb 27 (Reuters) - British publisher Pearson reported an as expected 5 percent rise in 2014 underlying adjusted operating profit and reiterated its pledge to return to earnings growth in 2015 as two years of painful restructuring come to an end.

Pearson (Xetra: 858266 - news) , the 171-year-old world leader in education, which has restructured under new leadership, reported 2014 adjusted operating profit of 720 million pounds. Sales were flat on an underlying basis at 4.9 billion pounds.

Adjusted earnings per share came in at 66.7 pence, slightly better than a forecast of 66 pence given in January and the group reiterated that it expected this to grow to between 75 and 80 pence in 2015, in what would be the first rise since 2011. (Reporting by Kate Holton; editing by Sarah Young)