Pearson underlying Q1 sales rise 6%; plans £300m buyback in H2

Education publisher Pearson said it was on track to meet annual guidance and announced a £300m share buyback to start in the second half of the year as underlying group sales rose 6%.

Including excluding the impacts of a strategic review and a business unit that Pearson is selling, total sales were up 2%, Pearson said in a trading update.

The company added that it would also deliver £120m of cost efficiencies this year.

Sales of the its English Language Learning services rose by two-thirds during the quarter, compared to the same period a year ago.

Reporting by Frank Prenesti for Sharecast.com