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Pearson says makes "solid" start to year, strong pound drags

Reuters - UK Focus

LONDON, April 25 (Reuters) - Education group Pearson (Dusseldorf: PES.DU - news) said it made a "solid" start to the year, although the strength of the pound against the dollar and some currencies in emerging markets caused headline sales to fall 6 percent in the first quarter.

The British group, which also owns the Financial Times newspaper, said on Friday that sales at constant exchange rates, excluding its Penguin (SES: E1:P13.SI - news) publishing arm which it has merged with Random House, and Mergermarket increased by 2 percent to 900 million pounds ($1.5 billion).

It said the impact of the strong pound and restructuring charges would result in first-half adjusted earnings per share (EPS) falling on a year ago, but it would still come in between 62 pence and 67 pence for the full year. ($1 = 0.5953 British Pounds) (Reporting by Paul Sandle; editing by Kate Holton)