Never miss an issue of Master Investor Magazine – sign-up now for free! |
Shares in publisher Pearson (LON:PSON) rose by 3.28% to 844.20p (as of 12:45 BST) despite booking flat revenues for the first nine months of the year. The company said that a 3% fall in income from US higher education courseware had been balanced out by growth elsewhere, particularly the company’s digital offerings.
Management retained their current full year underlying profits guidance of £520-560 million, but said EPS would be boosted due to one-off tax benefits. Chief executive John Fallon said: “We are on track to return to underlying profit growth and, with a strong balance sheet, are set up well for the future. We are picking up the pace in our growth opportunities, performing well competitively and making good progress in our digital transformation. There’s a lot still to do but we are increasingly excited about the opportunity to help learners acquire the knowledge and skills to succeed in a fast changing world.”