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Pearson Earnings Lowered On “Tough” US Education Market and Higher Restructuring Costs

January 23, 2014
By Michael Cader

Pearson provided a market update in advance of their February 28 full-year earnings report, telling investors that adjusted earnings per share will be lower than previously expected. Gross earnings are in line with their previous expectations, but restructuring costs of £170 million were £20 million higher than forecast in October, and cost savings from those changes were £10 million lower than planned. They note that “additional restructuring activity including an added warehouse closure announced in late 2013.” Pearson’s shares were down roughly 8 percent in early trading on the disappointing news. Total gross operating profit for 2013 will be approximately […]

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Filed Under: Earnings Reports, Publishers

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