Pearson: shares fall after trading update
(CercleFinance.com) - British publisher Pearson posted a positive trading update on Wednesday, as it has been doing for a while now, although its outlook for 2018 seems to have disappointed investors.
The London-based group will not announce full-year results before 23 February, although the company today provided a trading update to end-2017 and a guidance for 2018.
In the statement, Pearson said full-year results are "at the upper end of guidance," and reported "good strategic progress."
The firm said 2017 adjusted operating profit of 600 million to 605 million pounds is at the upper end of the guidance range it gave in October 2017, of between 576 million pounds and 606 million pounds.
For 2018, Pearson gave guidance for adjusted operating profit of between 520 million pounds and 560 million pounds, which failed to satisfy investors.
The market's disappointment sent the shares down 6.2% to 674.2 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The London-based group will not announce full-year results before 23 February, although the company today provided a trading update to end-2017 and a guidance for 2018.
In the statement, Pearson said full-year results are "at the upper end of guidance," and reported "good strategic progress."
The firm said 2017 adjusted operating profit of 600 million to 605 million pounds is at the upper end of the guidance range it gave in October 2017, of between 576 million pounds and 606 million pounds.
For 2018, Pearson gave guidance for adjusted operating profit of between 520 million pounds and 560 million pounds, which failed to satisfy investors.
The market's disappointment sent the shares down 6.2% to 674.2 pence.
Copyright (c) 2018 CercleFinance.com. All rights reserved.