Pearson gave a brief first quarter trading update on Friday. Their actual textbook publishing business, reported through the higher ed segment and still their second-largest division, was down 5 percent, “due to expected declines in US Higher Education reflecting the continued decline in enrollments and courses per enrollment.” International textbook businesses that are up for sale (“under strategic review” in corporate-speak) fell by 11 percent, “as expected.” But overall “underlying sales” — which leave aside currency exchange, which can have a big influence on their actual results, rose 7 percent in the period. Separately, the company announced another new acquisition, […]
