Pearson reports Q1 sales GBP0.9B Reports Q1 sales excluding Penguin and Mergermarket increased by 2% at constant exchange rates, and 1% underlying, to GBP0.9B. Headline sales declined 6% due to the strength of sterling against the US dollar and key emerging market currencies. By geography, North America again benefited from later second semester purchasing in higher education, with December sales again deferred into January, and good growth in digital and services. All key regions in Growth started well. Core was weak, as expected, mainly due to the timing of assessments and qualifications in the U.K.
Pearson reports 9-month sales up 1% at constant exchange rates Pearson reports 9-month North American sales down 6% in headline terms. The company reiterates its full year guidance - adjusted earnings per share expected to be between 62p and 67p in 2014. It said its restructuring program remains on track.