Pearson trading in line with expectations, chairman to step down
Publishing and education group Pearson said it was in line to meet its full-year expectations after a solid start to the year.
FTSE 100
8,147.03
16:54 29/04/24
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4,481.53
16:44 29/04/24
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Pearson
983.20p
16:34 29/04/24
The FTSE 100 group said sales in the first quarter of 2015 rose 5% year-on-year, boosted by a strong dollar.
Ongoing sales were flat at constant exchange rates compared with the corresponding period 12 months ago, while excluding exceptional items, sales fell 1% to £900m on a reported basis.
The London-listed company reiterated guidance for full year adjusted earnings per share of between 75p and 80p this year, up from 66.7 in 2014.
Pearson, which owns the Financial Times, proposed a final dividend of 34p, bringing the total dividend to 51p for 2014, a 6% increase year-on-year.
Meanwhile, the group chairman Glen Moreno has announced he will step down from the board in the next twelve months after more than nine years in the role. A successor has not yet been identified.
Pearson shares were up 0.86% to 1,414.00p at 08:04 on Friday.