January 17, 2018 / 7:26 AM / a year ago

Pearson sees 2018 growth after FX impact and disposals​

LONDON, Jan 17 (Reuters) - Education group Pearson said it expected to deliver underlying profit growth in 2018 when stripping out disposals and changes to currency, despite ongoing pressures in its North American business.

Pearson, updating on trading for its 2017 fourth quarter, said it expected adjusted operating profit of around 570 million pounds to 575 million pounds in 2017. That was lower than previously indicated, reflecting currency changes.

In 2018 it said it expected profit of between 520 million pounds and 560 million pounds, which it said represented underlying growth when it had stripped out assets it sold this year.

The group said pressures in North America had continued, with sales in U.S. higher education courseware down 3 percent on an underlying basis, in line with the lower end of its revised guidance range.

​ (Reporting by Kate Holton, Editing by Paul Sandle)

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