Q3 2019 Pearson PLC Trading Statement Call Transcript
Hello, and welcome to the Pearson's Third Quarter Trading Update Call. (Operator Instructions) And just to remind you, this is being recorded. So today, I am pleased to present John Fallon and Coram Williams. Please, begin.
Good morning, everybody, John Fallon here with our CFO, Coram Williams. Thank you for joining us at short notice. As you all have seen, back-to-school sales in U.S. Higher Education Courseware, which accounts for around 25% of group sales have been worse than we expected, prompting us to bring forward our 9-month trading update for today. For reasons that Coram will explain in a moment. We now expect sales in our U.S. Higher Education Courseware business to be down around 10% at the end of September, and to be down in the 8% to 12% range for the full year. The rest of the company is performing well, which means that we still expect to stabilize group revenues this year, that's because sales from the other 75% of Pearson in aggregate are expected to be up around 3% at the end of
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