Pearson IMS

An international media and education company, providing educational materials, technologies, assessments and related services to teachers and students.  Owner of The Financial Times and part owner (47%) of Penguin Random House.  I have a holding in my income portfolio (epic code: PSON).

Pearson issued their first quarter IMS today and stated that trading is in line with expectations.  In the first three months of the year, sales excluding Penguin and Mergermarket increased by 2% at constant exchange rates and 1% on an underlying basis, to £0.9bn.
Headline sales though declined 6% due to the strength of sterling against the US dollar and key emerging market currencies.

For the year management expect to report adjusted EPS of between 62p and 67p.

Pearson should benefit substantially from the US introduction of "Common Core" in schools across the country, see here for a discussion on the standard.  There is some considerable local state opposition, but the roll-out has started.