Pearson shares slump on bigger than forecast fall in sales as demand for US textbooks drops
Shares in Pearson topped the FTSE 100 fallers list today after the publisher posted falling revenue due to a drop in demand for higher education textbooks in the US.
Pearson reported a 7 per cent fall in underlying sales for the nine months to the end of September, worse than the 5 per cent drop analysts had predicted, impacted by a 9 per cent revenue slump in North America.
The group, which last year sold the Financial Times newspaper and its stake in The Economist magazine to concentrate on educational publishing, said poor demand for textbooks from college campuses in the US had... read more
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