Pearson (LON: PSON) shares fell around 2.5% in early Friday trading despite the company reaffirming it remains on track to meet its full-year guidance, following a modest 1% rise in underlying sales for the first quarter.
The educational publishing and services group said performance was in line with expectations and forecasted stronger momentum in the second half of the year.
“We are confident of delivering on our expectations for the year given our clear path to achieving stronger growth in the second half,” said Chief Executive Omar Abbosh.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Open a UK Investment Account: Shares, ISAs, Managed Portfolio
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
IG
View Offers
Empfohlener Broker
Multi Asset Platform
Sales growth was driven by a 6% rise in Higher Education, boosted by increased uptake of AI-powered study tools and digital subscriptions.
However, English Language Learning and Virtual Learning declined 6% and 4% respectively, in line with prior guidance.
Assessment & Qualifications rose 1%, with the company noting that contract timing and new product launches are expected to lift growth later in the year.
Meanwhile, Enterprise Learning & Skills also posted 1% growth, supported by contract wins, including with the UK Ministry of Defence.
The group reaffirmed its full-year expectations for low single-digit sales growth in the first half and stronger growth in the second. Adjusted operating profit is expected to remain in line with consensus.
Pearson also confirmed it had received £0.1 billion in State Aid repayments and had repurchased £65 million of shares under its £350 million buyback programme by 30 April.
Searching for the Perfect Broker?
Discover our top-recommended brokers for trading and investing in financial markets. Dive in and test their capabilities with complimentary demo accounts today!
- IG Top-tier regulation – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
