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Date: Wednesday 15 Oct 2008

LONDON (ShareCast) - Publishing group Pearson is receiving a boost to profits from the resurgent US dollar.

The group said that if the recent strengthening of the greenback versus sterling is maintained, full-year adjusted earnings per share are likely to be at the top end of current market estimates.

Giving a third quarter update, the group said it is trading in line with expectations.

The Education business has seen sales rise 10% in the first nine months of 2008. Integration of new businesses is proceeding well and margin guidance for the year remains unchanged for this division at levels similar to those seen in 2007.

Sales are up 11% at the FT Group and 3% higher at Penguin.

“We're naturally cautious about the global economic conditions, but we have good trading momentum, innovative products, resilient businesses and a strong balance sheet,” said Marjorie Scardino, chief executive of Pearson.

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