Andrew Edgecliffe-Johnson and Ben Fenton of the Financial Times report that the financial newspaper’s parent, Pearson, reported strong third-quarter results, when revenue from the paper rose 14 percent.
“In a note, Patrick Wellington, analyst at Morgan Stanley, said the statement was ‘very positive’, particularly the guidance of underlying revenue growth of about 2-4 per cent in North American education. He noted a healthy balance sheet with a ratio of 1.2 times net debt to earnings before interest, tax, depreciation and amortisation.
“An analyst, who asked not to be named, said: ‘If you compare this with McGraw Hill, which started out the year much more positively than Pearson and has had to downgrade expectations twice since, it is a reassuring picture of the US education market. The FT result is obviously trend-bucking, but the question is how long it will last.'”
Read more here.
Crain's Chicago Business is a leading source of news, analysis, and information on the business,…
Emma Sandler has been hired as associate editor at Agenda, a publication under the FT…
Cablefax Daily interviewed Fox Business Network anchor Liz Claman on her induction into the Cable Hall…
BBC News has hired Charlotte Edwards as a reporter covering money, work and technology. She previously was…
Reuters has promoted Hatem Maher to deputy breaking news editor for the Middle East. Maher has been…
Canada's Financial Post has hired Ben Cousins as a senior editor. He has been working as a…