Ticker PSON

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Market open
% change
Price Pence
As of 13:07 18 Jul 2018
Market cap. Pound sterling
7,171.27 million
As of 13:08 18 Jul 2018

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Education publisher Pearson pleases market

Graduating students
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Shares in education publisher Pearson climbed 3% today after it confirmed it is making faster than expected progress in some areas of its restructure.

The company said total cost savings are expected to be £300m a year by 2020.

it posted pre-tax profits of £421m today, following a £2.5bn loss last year on the back of a major impairment in its US business.

Chief executive John Fallon said: “Pearson has made good progress against its strategic priorities in 2017 with further simplification of the portfolio, strengthening of our balance sheet and delivering results at the top end of guidance."