Pearson sees no recovery in U.S. enrolments for "two to three years"
LONDON, Oct (HKSE: 3366-OL.HK - news) 21 (Reuters) - Pearson (Xetra: 858266 - news) said it had been surprised by around a 2 percent fall in enrolments in U.S (Other OTC: UBGXF - news) . colleges in September - it had expected flat to a slight fall - and it did not expect a quick recovery.
"Clearly things like the impact on enrolments in America, that has proved more persistent than we expected, but it will turn, and it will turn over the next two to three years, not least because you've got a large and growing high school population in America," Chief Executive John Fallon said in an interview on Wednesday.
Pearson had earlier said that its profit would come in at the bottom end of its forecast range, in part because of the lower enrolments, sending its shares down more than 16 percent. (Reporting by Paul Sandle; editing by Sarah Young)