Pearson Q1 Sales Down; Backs FY16 Adj. Earnings View - Quick Facts

(RTTNews) - British publishing and education company Pearson plc (PSO, PSON.L) reported Friday that its first-quarter continuing sales were down 4% in underlying terms, primarily due to the expected weakness in assessments revenues in the US and UK which are weighted towards the first half of the year.

Revenues declined 9% at constant exchange rates. Headline sales decreased 6%. The company said it is trading in line with the expectations

Looking ahead, the company said it continues to expect to report adjusted operating profit between 580 million pounds and 620 million pounds and adjusted earnings per share between 50p and 55p for the full year.

At AGM today, the company is proposing an unchanged final dividend of 34p, giving a total dividend for 2015 of 52p, up 2%.