Pearson Down 3.6% Following 2011 Earnings Announcement

Pearson

is trading lower on the session following its 2011 earnings announcement. The company reported net profit for 2011 of 957 million pounds ($1.52 billion), versus a profit of 1.3 billion pounds in 2010. Its sales rose 3.5% to 5.86 billion pounds from 5.66 billion pounds. The company stated that: "The external environment is likely to remain challenging in 2012, in the face of turbulent macroeconomic conditions and rapid structural change in our industries. However, we will once again make progress on our strategic goals of making Pearson more digital, more exposed to developing markets and more directly engaged in helping students succeed." Pearson is currently trading at $19.09, a loss of $0.72 or 3.63%.