Bad news today from Pearson which no longer expects to reach its operating profit goal for FY18e. Instead, OP is expected to be in line with FY16e despite a very bad Q4 (“unprecedented decline in North American higher education courseware business”), enabling a final 34p dividend in line (i.e. 52p as expected for FY16). FY17e will also be far lower than expected, reflecting continued challenges and uncertainty in the North American higher education courseware market, implying that
18 Jan 2017
Bad winds around: operating profit goal for FY18e withdrawn…
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Bad winds around: operating profit goal for FY18e withdrawn…
Pearson PLC (PSON:LON) | 994 -6 (-0.1%) | Mkt Cap: 6,795m
- Published:
18 Jan 2017 -
Author:
Véronique Cabioc'h -
Pages:
3
Bad news today from Pearson which no longer expects to reach its operating profit goal for FY18e. Instead, OP is expected to be in line with FY16e despite a very bad Q4 (“unprecedented decline in North American higher education courseware business”), enabling a final 34p dividend in line (i.e. 52p as expected for FY16). FY17e will also be far lower than expected, reflecting continued challenges and uncertainty in the North American higher education courseware market, implying that