Pearson: 2018 figures, outlook fail to convince
(CercleFinance.com) - British publisher Pearson said on Wednesday that it expects to deliver adjusted operating profit of between 540 million and 545 million pounds in 2018, in line with its previous guidance of 520-560 million pounds.
The company also gave a preliminary guidance for 2019, saying it expects to post an adjusted operating profit of between 590 million and 640 million pounds.
However, while Pearson has increased its total annual cost savings targets from 300 million to 330 million pounds, its guidance does not suggest any upgrades to consensus, an analyst noted.
This has prompted a round of selling, with the shares currently tumbling 6.6% in London.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company also gave a preliminary guidance for 2019, saying it expects to post an adjusted operating profit of between 590 million and 640 million pounds.
However, while Pearson has increased its total annual cost savings targets from 300 million to 330 million pounds, its guidance does not suggest any upgrades to consensus, an analyst noted.
This has prompted a round of selling, with the shares currently tumbling 6.6% in London.
Copyright (c) 2019 CercleFinance.com. All rights reserved.