Pearson Backs 2018 Guidance After 1Q Underlying Revenue Rose 1%
04 Mai 2018 - 8:52AM
Dow Jones News
By Adria Calatayud
Pearson PLC (PSON.LN) on Friday confirmed its earnings guidance
for 2018 after underlying revenue rose 1% in the first quarter.
In the three months ended March 31, the FTSE 100-listed
education company said it delivered a 3% increase in underlying
revenue in North America--the company's largest market--which was
partially offset by phasing segment at its South African school
courseware segment.
The company said it made a good start to the year and that its
first-quarter performance was in line with expectations, but noted
that its sales are significantly weighted toward the second half of
the year.
Pearson said it expects an adjusted operating profit of between
520 million and 560 million pounds ($706.5 million-$760.8 million)
for the full year, and adjusted earnings per share of between 49
pence and 53 pence, including businesses held for sale.
The company said it is progressing in negotiations for the sale
of its U.S. K-12 courseware business.
Pearson also said it is on track to deliver GBP300 million of
annualized cost savings by 2020, and that cumulative savings of
GBP95 million will be achieved by the end of 2018.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
May 04, 2018 02:37 ET (06:37 GMT)
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