- In a nine-month trading update today, Peasson cut its profit guidance.

Education company Pearson said that weaker than expected trading in its US Higher Education Courseware business would mean that it expects adjusted operating profit to be at the bottom end of the guidance range of £590m to £640m.

The US business, representing around 25% of revenue saw revenues fall 10% as the shift from print to digital accelerated faster than expected.

The company expects US Higher Education Courseware revenue to decline between 8% to 12% in 2019, weaker than the original guidance for a flat to 5% decline.

Adjusted earnings per share is expected to be at the bottom of the guidance range of 57.5p to 63p.

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