2016 operating profit and eps slightly better than January 2017 guidance. Strong 2016 cash conversion Sales of £4,552m declined 8% in underlying terms. Good growth in Pearson VUE, US Virtual Schools Online Program Management and Wall Street English in China was more than offset by expected declines in US and UK student assessment and US school courseware, and a much worse than expected decline in North American higher education courseware, as detailed in our 18 January trading statement. Deferred revenue was broadly level in underlying terms and is now 18% of our revenues (2015: 16.5%). Adjusted operating profit of £635m was down 21% in underlying terms due to weaker revenues, the partial reinstatement of incentives and other operational factors, partially offset by cost savings from the restructuring plan announced in January 2016, a larger contribution from Penguin Random House, helped in part by modest one-off benefits from the integration programme, and a return to profit in our Growth segment. click Read More below for additional detail
UPS announced Corporate Responsibility (CR) Magazine has named the company to its “100 Best Corporate Citizens” annual listing for the tenth straight year. The distinction celebrates the standout environmental, social and governance (ESG) performance of Russell 1000 companies across the United States. It examines seven categories: climate change, environment, governance, employee relations, human rights, finance, and stakeholders and society.
“It’s good to see our ongoing sustainability efforts to continue to be a good neighbor and to mitigate our environmental footprint are being recognized as evidenced by UPS moving up 27 spots on this listing year over year,” said Crystal Lassiter, senior director of global sustainability for UPS. “We’re proud to be honored by CR Magazine among so many other esteemed social responsibility leaders.”
CR Magazine specifically recognized UPS’s sustainability efforts, ranking the company 9 in the environment category and 16 in the stakeholders/society category, which together comprise more than one-third of the scoring criteria. CR Magazine partners with ISS-ESG to compile its annual “100 Best Corporate Citizens” list, evaluating publicly available information from eligible companies across 134 ESG performance measure and disclosure data criteria.
UPS has been honored with several other prominent environmental and social distinctions over the last year, including:
◦Received the Carbon Disclosure Project’s CDP “A” List award
◦Chosen as one of America’s Top 100 Most Sustainable Companies by Barron’s
◦Named to Dow Jones Sustainability North America Index for 14th year in a row & the Dow Jones Sustainability World Index (DJSI World) for sixth consecutive year
◦Recognized on Forbes and JUST Capital’s annual “JUST 100” list for social responsibility for the third consecutive year
◦Selected for the Civic 50, an initiative of Points of Light, for the fifth time
Read the full article from CR Magazine. To learn more about UPS’s sustainability initiatives, please visit www.ups.com/sustainability.