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 […]
