Pearson sees earnings near top of range
Publishing group Pearson said its adjusted 2008 earnings per share should be towards the top end of current market estimates if the dollar maintains gains versus sterling.
Diageo spirits up after earnings riseThe owner of The Financial Times also said on Wednesday it was trading in line with expectations, with sales up 8 percent and operating profit up 11 percent at constant exchange rates in the nine months to end-September.
"We're naturally cautious about the global economic conditions, but we have good trading momentum, innovative products, resilient businesses and a strong balance sheet," chief executive Marjorie Scardino said in a statement.
Analysts' median forecast is for an adjusted 2008 EPS of 49.25 pence from Pearson, based on a range from 45.65 to 52.8 pence, according to Reuters Estimates.
Pearson shares, which have outperformed other leading European media stocks by 9 percent over the past 12 months, closed at 559.5 pence on Tuesday to value the business at 4.37 billion pounds.
(Reporting by Dan Lalor; Editing by Hans Peters)
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