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First quarter sales up 11% at Pearson
27.04.12 | Benedicte Page
Pearson increased sales by 11% to £1.16bn in the first three months of 2012, it announced in an interim management statement released this morning (27th April).
The company predicted that despite a "challenging" environment, it would achieve growth in sales and operating profits for the year as a whole, but that first-half operating profits were likely to be lower than in 2011.
Education has made "a good start to the year" despite the weak US education market, Pearson said, with rapid growth in its digital and services businesses. The company said its International Education business was "growing well, particularly in developing markets" and helped by recent acquisitions and sustained investment.
Penguin is expected to perform "in line with the industry" this year following several years of outperforming the overall consumer books market, Pearson said.
The company noted that it intended to mount "a robust defence of our actions" in the US Department of Justice's proceedings over e-book pricing.