Pearson told investors it expects operating profit for the year to be at the very bottom of the original guidance range of £590 million to £640 million, as part of its 9-month trading update. The reduced expectations are due to weaker than expected sales in the US higher education business, which represents 25 percent of sales. US higher ed revenues dropped 10 percent over the prior year’s period, which Pearson attributed to “a significant industry wide acceleration of print attrition as channel partners and students turn away from print products more rapidly than anticipated.” As a result, Pearson now anticipates […]
