StockMarketWire.com - Educational publisher Pearson said its underlying sales grew by 2% in the first quarter, putting the company on track to meet its annual earnings guidance.
Pearson said it still expected to deliver adjusted operating profit of between £590m to £640m, adjusting for new accounting standards the sale of its US courseware business.
Annualised cost savings in excess of £330m were still expected for the year.
'We are off to a strong start to the year, having laid good foundations in 2018,' chief executive John Fallon said.
'We continue to make progress against our strategic priorities, and we are bringing exciting new products and capabilities to market in 2019 which will continue to accelerate our move to digital.'
'We expect our sales to stabilise this year and to increase our underlying profit further.'
Story provided by StockMarketWire.com
Shares Magazine
Shares is the leading weekly publication for retail investors. It is packed with investment ideas, news and educational material to help build and run portfolios and get more from your money.
Investor Events
Shares puts on free Investor Events throughout the year across the country. They provide an opportunity for investors to learn more about companies on the stock market and hear from a range of investment experts including fund managers and Shares journalists.