Pearson improves full-year guidance

Are Pearson’s (PSON) fortunes improving? Chief executive John Fallon certainly seems to think so, having increased his ‘worst case scenario’ adjusted operating profit expectations from £546m to £576m. Mr Fallon pointed to an acceleration in the cost-saving programme and better-than-expected trading at the troubled US higher education business as the reason for the renewed optimism. Relieved, the market sent the shares up 7 per cent by way of response.