The company posted a pretax loss of
The media company said deferred revenue increased over the previous year due to growth in pre-billed subscriptions, conferences and events.
In Sports and Gaming, revenue rose to
In Education, the company has been transferring its customers to an online subscription service from a printed product. It is winding down its Incentive Plus business, consolidating its subscription products and dis-investing in books and other one off products. In the second-half, it will add a new managing director in this segment, and make further investments in product development and sales, it said.
In Health, the company disposed of its Sports performance business, some publications and relocated its team to one office, in order to increase focus on publishing activities and growing digital product sales. Sales of ebooks and sales through e-commerce channels rose 29%, the company said, although sales of its less digitally evolved Speechmark products dropped 7%.
The company said that it is upping investment on product development due to its confidence in its digital subscription businesses, and whilst this will reduce profit in the short-term, it said it believes it will have a "significant positive impact on the scale and value of the group in the medium term."
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