Pearson issued a brief first quarter trading update, in advance of their annual meeting. Sales rose 3 percent overall in the period, at £1.16 billion, up 11 percent on a constant-exchange-rate basis. The company expects profits in the first half of this fiscal year to be lower than a year, with income “heavily weighted to the second half” and comparisons that include the previous sale of their stake in FTSE International. They expect Penguin to “perform in line with its industry this year” (which usually means low growth). The unit “will benefit from its consistently strong publishing schedule, which is […]
