PSON Pearson Plc

   By Adria Calatayud 
 

Pearson PLC (PSON.LN) said Wednesday that it anticipates adjusted operating profit for 2018 to be ahead of expectations, despite a revenue decline due to continued pressures at its key U.S. higher-education business.

The London-based education publisher said it expects to deliver adjusted operating profit for 2018 of between 540 million and 545 million pounds ($694.2 million-$700.6 million).

Pearson previously guided for adjusted operating profit of between GBP520 million and GBP560 million. Analysts expected the company to report adjusted operating profit of GBP533 million, according to a company-provided consensus.

The FTSE 100 company said underlying revenue was down 1% on year with a 5% decline in U.S. higher-education courseware. Analysts forecast Pearson to post a 0.4% decline in 2018 organic revenue, according to a consensus provided by the company.

Pearson said pressures at its U.S. higher-education business will continue in 2019. The company expects revenue at the business in the year ahead to be flat or fall by up to 5%, it said.

Adjusted operating profit for 2019 is forecast at between GBP590 million and GBP640 million, as the company's simplification plan is on track to deliver savings ahead of expectations, Pearson said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

January 16, 2019 02:36 ET (07:36 GMT)

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