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BRIEF-Pearson says H1 trading in line with expectations
July 29, 2016 / 6:26 AM / a year ago

BRIEF-Pearson says H1 trading in line with expectations

July 29 (Reuters) - Pearson Plc

* Is trading in-line with expectations set in February and is reiterating 2016 guidance

* Growth and simplification plan is on-track and our 2018 goals are unchanged

* If current exchange rates persist until end of 2016 earnings per share guidance range will increase by approximately 4p

* H1 sales of 1,866 mln pounds declined 7 pct in underlying terms primarily due to expected declines in assessment revenues in US and UK

* H1 adjusted EPS loss 1.3 pence versus 4.4 pence profit year ago

* Interim dividend 18 penceper share

* H1 adjusted operating profit of 15m pounds is in-line with our expectations and down 39m pounds when compared to H1 2015

* H1 revenues declined 11 pct at constant exchange rates, reflecting underlying revenue declines

* Dividend held level at 18p, in-line with previous guidance, reflecting board’s confidence in medium term outlook

* In 2016, expect to report adjusted operating profit, adjusted EPS before costs of restructuring of between 580m pounds and 620m pounds and between 50p and 55p Source text for Eikon: Further company coverage:

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