PEARSON UPBEAT ON TRADINGA Pearson

PEARSON UPBEAT ON TRADING
A Pearson met or exceeded its previous guidance for 2008 in all its businesses, the publisher said this week. This was in marked contrast to a number 5 of 'bearish' announcements from rival educational , book and newspaper companies. The owner ofthe Financial Times said, in a trading update, that it expected full-year earnings growth 10 of around 20 per cent, indicating that adjusted earnings per share could advance from 46.7p to about 56p, ahead of consensus forecasts of 51p. B 'We are naturally cautious about the 15 economic environment, but we take confidence from our performance in 2008,' said Dame Marjorie Scardino, ChiefExecutive. 'Some ofour markets will be tough this year, and we are 20 managing the company accordingly,' she added. However, Pearson 's strategy,past investments and resilience would enable it 'to take full advantage of the opportunities this environment 25 gives us to build our business and gain [market] share' . C Pearson's shares closed up 27p at 625p. Pearson's statement stood in clear contrast to recent comments by 30 some rivals. McGraw-Hill , the US educational publisher, cautioned in January that spending by states on elementary- to high-school materials had slumped since August and might 35 fall by 10-15 percent this year. D This statement marks the second time in three months that Pearson has indicated that its earnings would be above consensus levels. It noted 40 that earnings had benefited from the strength of the dollar and a tax rate towards the lower end of a previous 27-29-per-cent guidance range. E Analysts had also been prepared for 45 poor Christmas sales from consumer book publishers, since Borders, the US book retailer, said its holiday sales had fallen by 11 per cent. Analysts were also worried about the impact 50 of a weak advertising market on the FfGroup. F Simon Baker of Credit Suisse commented, 'It is good news, but there are some question marks. Pearson is 55 a late-cycle company, and if the good news now is coming from market share increases, from the tax charge and the strong dollar, people are generally going to be cautious about as- 60 smning all that will continue.' Alex de Groote, analyst at Panmure Gordon, stated 'There are certainly no new horror stories, but I remain concerned about exposure to the education 65 market in the US.' G Pearson's statement highlighted the strength in its historically countercyclical US higher-education business. This has benefited from a contracting 70 job market, which has encouraged more people to invest in continuing education rather than looking for employment. Growth in the international education business helped 75 offset ' some weakness' in the US school publishing market, which accounts for approximately one-fifth of Pearson Education, and slightly more than 10 per cent of group revenues. H Ff Publishing, which includes the FT, business magazines and online brands such as Mergermarket, saw an advertising slowdown in the fourth quarter, but produced 'good sales and 85 profit growth' for the full year. I Penguin Group UK (which incorporates famous brands such as the Rough Guides to travel, Penguin Classics and the Puffin and Ladybird children's 'Xl books) performed ' in line with expectations', Pearson said.

Résultats (Français) 1:

PEARSON OPTIMISTE SUR LA NÉGOCIATIONA Pearson met or exceeded its previous guidance for 2008 in all its businesses, the publisher said this week. This was in marked contrast to a number 5 of 'bearish' announcements from rival educational , book and newspaper companies. The owner ofthe Financial Times said, in a trading update, that it expected full-year earnings growth 10 of around 20 per cent, indicating that adjusted earnings per share could advance from 46.7p to about 56p, ahead of consensus forecasts of 51p. B 'We are naturally cautious about the 15 economic environment, but we take confidence from our performance in 2008,' said Dame Marjorie Scardino, ChiefExecutive. 'Some ofour markets will be tough this year, and we are 20 managing the company accordingly,' she added. However, Pearson 's strategy,past investments and resilience would enable it 'to take full advantage of the opportunities this environment 25 gives us to build our business and gain [market] share' . C Pearson's shares closed up 27p at 625p. Pearson's statement stood in clear contrast to recent comments by 30 some rivals. McGraw-Hill , the US educational publisher, cautioned in January that spending by states on elementary- to high-school materials had slumped since August and might 35 fall by 10-15 percent this year. D This statement marks the second time in three months that Pearson has indicated that its earnings would be above consensus levels. It noted 40 that earnings had benefited from the strength of the dollar and a tax rate towards the lower end of a previous 27-29-per-cent guidance range. E Analysts had also been prepared for 45 poor Christmas sales from consumer book publishers, since Borders, the US book retailer, said its holiday sales had fallen by 11 per cent. Analysts were also worried about the impact 50 of a weak advertising market on the FfGroup. F Simon Baker of Credit Suisse commented, 'It is good news, but there are some question marks. Pearson is 55 a late-cycle company, and if the good news now is coming from market share increases, from the tax charge and the strong dollar, people are generally going to be cautious about as- 60 smning all that will continue.' Alex de Groote, analyst at Panmure Gordon, stated 'There are certainly no new horror stories, but I remain concerned about exposure to the education 65 market in the US.' G Pearson's statement highlighted the strength in its historically countercyclical US higher-education business. This has benefited from a contracting 70 job market, which has encouraged more people to invest in continuing education rather than looking for employment. Growth in the international education business helped 75 offset ' some weakness' in the US school publishing market, which accounts for approximately one-fifth of Pearson Education, and slightly more than 10 per cent of group revenues. H Ff Publishing, which includes the FT, business magazines and online brands such as Mergermarket, saw an advertising slowdown in the fourth quarter, but produced 'good sales and 85 profit growth' for the full year. I Penguin Group UK (which incorporates famous brands such as the Rough Guides to travel, Penguin Classics and the Puffin and Ladybird children's 'Xl books) performed ' in line with expectations', Pearson said.

Résultats (Français) 3:

pearson optimiste sur le commercepearson a atteint ou dépassé ses directives précédentes pour 2008 dans toutes ses entreprises, l'éditeur a dit cette semaine.c'est en contraste marqué avec un numéro 5 des « annonces de rival baisse « l'éducation, la livre et les entreprises de presse.le propriétaire du financial times, une mise à jour, qu'il prévoit une croissance de 10 des gains de l'année autour de 20%, ce qui indique que le bénéfice par action rajusté afin de 46.7p pourrait faire avancer de 56p, devant consensus forecasts de 51p. b « nous sommes prudents sur la 15, environnement économique, mais on prend confiance notre rendement en 2008 ", a déclaré mme marjorie scardino, directrice générale.certains de nos marchés sera dur cette année, et nous sommes 20 la gestion de la société en conséquence ", a - t - elle ajouté.toutefois, pearson 's stratégie, des investissements antérieurs et de la résilience lui permettrait de tirer pleinement parti des possibilités que cet environnement 25 nous donne à bâtir notre entreprise et gagner [marché] part ".actions c pearson fermé 25 à 625p. pearson est énoncé est en net contraste avec les récents commentaires 30 certains rivaux.mcgraw - hill, les États - unis educational publisher, a mis en garde en janvier que les dépenses par les États sur les matériaux primaires - à l'école secondaire est en baisse depuis août et 35 chute par 10 à 15% cette année.d cette déclaration marque la deuxième fois en trois mois que pearson a indiqué que sa rémunération serait au - dessus de consensus.il a relevé 40 que les gains ont bénéficié de la vigueur du dollar et un taux d'imposition à l'extrémité inférieure d'une orientation 27-29-per-cent précédente.les analystes ont également été préparés pour la vente de noël des 45 pauvres éditeurs, comme les frontières, le détaillant de livres, dit que ses ventes de voyages a diminué de 11%.les analystes sont également inquiets de l'impact 50 d'un faible marché de la publicité sur le ffgroup.f simon baker de credit suisse a indiqué, « c'est une bonne nouvelle, mais il y a des points d'interrogation.pearson est 55 une société en fin de cycle, et si la bonne nouvelle vient de l'augmentation de la part de marché, de la charge fiscale et le dollar fort, les gens sont généralement sera prudent aussi - 60 smning tout ça continuera. alex de groote, analyste chez panmure gordon, a déclaré « il n'y a pas de nouveau des histoires d'horreur, mais je demeure préoccupé par l'exposition à l'éducation 65 marché aux États - unis. g pearson a souligné la force dans sa déclaration de l'enseignement supérieur, historiquement nous contracyclique.il a bénéficié d'un marché de 70 emplois contractant, ce qui a incité davantage de gens à investir dans l'éducation continue plutôt que de chercher un emploi.la croissance dans l'éducation internationale entreprise aidé 75 compensée « une certaine faiblesse dans le marché de l'édition scolaire, qui représente environ un cinquième de pearson education, et un peu plus de 10% des revenus.h ff publishing, qui comprend le ft, magazines et les marques en ligne tels que la publicité mergermarket, a vu un ralentissement au quatrième trimestre, mais produit « de bonnes ventes et 85 de la croissance des bénéfices pour l'ensemble de l'année.je penguin group du royaume - uni (qui incorpore des marques célèbres telles que les guides de voyage difficile, penguin classics les macareux et coccinelle enfants est « xl livres) effectués en ligne avec les attentes, pearson a dit.