Pearson endures weak key selling season
LONDON Jan 21 (Reuters) - British education and media group Pearson said it expected tough market conditions and structural industry change to continue into 2013 after it endured weak trading in the key fourth quarter selling season.
The Financial Times and Penguin publisher said market conditions had remained weak in the fourth quarter for higher education, consumer publishing and corporate advertising.
For 2012, it said it expected to report good revenue growth at constant exchange rates, operating profit of around 935 million pounds ($1.48 billion) - which is broadly level at constant exchange rates - and adjusted earnings of around 84 pence per share and cash conversion of close to 90 percent.
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official