Pearson shares drop as sales tick downwards
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FTSE 100 educational publisher Pearson (LON:PSN) has seen its shares drop by 6.04% to 917.60p (as of 14:15 GMT) after the company said that underlying revenues fell by 1% during 2018. Sales of US higher education courseware dropped by 5% but this was partially offset by improvements in other areas, particularly digital and direct to customer sales.
Chief executive John Fallon 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“.
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