Educational Technology

January 27, 2018

Pearson shares drop on gloomy outlook for US college textbook market

Filed under: Educational Technology — admin @ 12:40 am

by Alys Key, City AM

Publishing group Pearson was among the companies leading a fall in the FTSE 100 this morning, after it issued a trading statement. While the firm said its profits would reach the top end of guidance at as much as £606m, it revealed it was still grappling with the US textbook sector. Sales in the unit dropped three per cent in the nine months to the end of 2017. This contributed to a four per cent decline in North American and the overall two per cent drop in underlying revenues. The group only expects the US higher education market to get tougher, due to “lower college enrolments, increased use of Open Educational Resources and attrition from growth in the secondary market driven by print rental”.

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