By Simon Zekaria
LONDON--Pearson PLC (PSON.LN) on Wednesday warned of ongoing
challenging market conditions, even as it reported that its
business is performing in line with expectations.
The education specialist and publisher expects to report
full-year results in line with previous guidance with adjusted
operating profit and adjusted earnings-per-share at approximately
GBP720 million ($1.09 billion) and 66 pence, respectively. The EPS
figure is at the top end of its guided range of between 62 pence
and 67 pence.
It also expects adjusted EPS in 2015 at between 75 pence and 80
pence.
"Despite continuing challenging market conditions, overall we
had a good competitive performance in 2014," said Chief Executive
John Fallon.
Pearson, which generates about 60% of its sales in the U.S., is
pushing its education business in emerging markets. It also has
high-profile consumer titles such as the Financial Times
newspaper.
Pearson shares closed Tuesday at 1,236 pence, valuing the
company at GBP10.13 billion ($15.37 billion).
-Write to Simon Zekaria at simon.zekaria@wsj.com
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