Cost cuts help Pearson to reiterate targets amid tough trading
Pearson, the world's biggest education company, reiterated its full-year outlook on Monday after cost cuts helped it to counter worse-than-expected trading in the third quarter.
In a key update for investors, Pearson said nine-month organic sales fell by 7 percent, maintaining the declines recorded in the first half of the year due to weak demand for courseware in its North American higher education business.
Analysts had expected a nine-month fall of 5 percent.
Pearson said the pressures on the courseware business had however shown signs of improvement in September and October.
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