Pearson crashes on the London Stock Exchange. The shares of the British publishing house, world leader in the education sector, ended the session down by 29,08% after announcing the profit warning on 2017 results and a dividend cut. Not only that, the publishing group has announced that it will leave Penguin Random House, the joint venture with the German company Bertelsmann, born in 2013 from the merger of Random House and Penguin. "We expect to exercise the option to exit our 47% stake in Penguin Random House to our joint venture partner, Bertelsmann, or otherwise be able to leverage this business," the company said.
"We are ready to increase our shares in Penguin Random House - replied the number one of the German group, Thomas Rabe - provided the financial conditions are reasonable".
On the books, Pearson cut its operating profit estimate by 19% to £570-630m (£702m was expected) and anticipated an 8% decline in revenues.
