Tom Keighley

Pearson report "tough" fourth quarter

Publishing organisation Pearson have reported “tough” market conditions in the key fourth-quarter selling season for higher education, consumer publishing and corporate advertising.

Earlier this year, Pearson exited it apprenticeships business, Pearson in Practice. The Financial Times Group owner expects to report a slow fourth quarter, caused by weaker advertising sales.

The firm also said its Penguin business will report revenues similar with 2011, as the planned merger of Penguin and Random House moves through regulatory clearance.

Pearson expect to report earnings of £50m, with around 60% of sales made in the US.

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