By Jonathan Davies

Publishing Group Pearson has reported a £115 million loss for the first half of the year.

Pearson yesterday confirmed the sale of the Financial Times Group to Nikkei for £844m.

Pearson's loss compares to a £36m loss in the first half of 2014.

Pearson said the loss was the result of a £70m write down related to the sale of its US PowerSchool software business.