In line with their muted January “trading update,” Pearson released its full 2018 results, reinforcing the continuing trend: Their major division, the US higher education courseware business, continues to decline as they continue its “digital transformation,” weighing down stable performance in the rest of the company’s continuing operations. Sales were £4.13 billion, down from £4.51 billion in 2017, with underlying sales down 1 percent. As indicated in January, to the surprise of analysts, US higher ed sales fell 5 percent. Adjusted operating profit was £546m for 2018, in the upper half of their guidance. As for Penguin Random House, in which […]
