Pearson PLC reports its pretax profit increased 54% during the first half

Article Abstract:

Pearson PLC reported a pofit increase of 54% during the first half of 1998. The company reported operating profits of $173.3 million for the six months ending June 30, 1998 up 54% from a year earlier. Pearson stock hit an all time high at 1200 pence ($19.60) after the profit report. The profits reflect higher earnings at its information unit and financial newspaper. Its television unit also boosted earnings largely because of last year's acquisition of All-American Communications, which produces "BayWatch" and "The Price Is Right."

Comment:

Pearson PLC reported a profit increase of 54% in the first half of 1998

United Kingdom, Diversified Companies, Company Data, Pearson PLC

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Ciba Specialty swings to $525.2 million loss and plans job cuts

Article Abstract:

Ciba Specialty Chemicals AG said it is planning to downsize 1,100 jobs as part of an austere company overhaul. The planned 1,100 layoffs make up 4.4% of Ciba's payroll worldwide. During the first six months of 1998, the company posted a 791 million Swiss francs ($525.2 million) loss. During the same period in 1997, Ciba posted 172 million Swiss francs in net income.

Comment:

Said it is planning to downsize 1,100 jobs as part of an austere company overhaul

Switzerland, Company Planning/Goals, Personnel administration, Basic Chemical Manufacturing, Specialty Chemicals, Ciba Specialty Chemicals AG

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