LONDON Feb 24 Pearson, the global
education company battling a collapse in demand in its biggest
market, posted a 2016 statutory loss of 2.3 billion pounds ($2.9
billion) after writing down the value of the business.
Pearson, which has issued five profit warnings in four
years, took an impairment of goodwill of 2.5 billion pounds. The
group reported 2016 adjusted operating profit of 635 million
pounds, down 21 percent on the year but slightly better than
Net debt increased to 1.1 billion pounds, from 654 million
pounds the year before.
($1 = 0.7965 pounds)
(Reporting by Kate Holton, Editing by Paul Sandle)