Pearson shares fell more than 6% on Wednesday after the publishing firm issued a trading update.
The publishing and education firm updated the market on its guidance for the year, with full-year results set to be announced on 22 February.
Pearson said it expects adjusted operating profit to be in the region of £540-£545 million for the year, proving in line with previous guidance of £520 to £560 million.
The company added that it expects adjusted earnings per share of between 70.0p and 71.0p, as a result of one-off tax benefits and a lower finance charge previously disclosed in q3.
Underlying revenues were fell 1% year on year, as a result of a decline in US Higher Education Courseware (US HECW) of 5% and US K12 courseware.
Pearson said that this decline was ‘largely offset by the rest of the business growing in aggregate at over 1%’. Overall, revenue in North America dipped 1%.
John Fallon, Chief Executive said:
“We have made good progress in 2018, returning Pearson to underlying profit growth. We are also building a platform to enable Pearson to achieve its full digital potential, empowering more people around the world to learn the knowledge and skills to flourish in the changing world of work. There is much still to do, but we are increasingly confident in Pearson’s potential to grow and prosper.”
Shares in Pearson (LON:PSON) are currently down -6.37% as of 14:26PM (GMT).
