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Pearson 2019 profit constrained by textbook slump

Reuters - UK Focus

LONDON, Feb 21 (Reuters) - British education group Pearson reported 6% growth in operating profit to 581 million pounds ($748.7 million) for 2019, slightly below guidance lowered last month, as falling textbook sales in North America offset growth in the rest of the business.

It said on Friday it expected to deliver operating profit of between 410 million and 490 million pounds, after excluding the 25% stake in Penguin Random House it is selling to Bertelsmann.

($1 = 0.7760 pounds) (Reporting by Paul Sandle; editing by Sarah Young)