UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2008
PEARSON plc
(Exact name of registrant as specified in its charter)
N/A
(Translation of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address of principal executive office)
Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes No X
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This Report includes the following documents:
1. A press release from Pearson plc announcing AGM Statement
25 April 2008
PEARSON AGM, TRADING UPDATE AND BOARD APPOINTMENTS
Pearson is today providing a trading update and announcing two board
appointments at its Annual General Meeting.
Trading update
Pearson has made a good start to 2008. Our strong momentum has continued and we
are trading in line with the expectations we set out in our preliminary results
announcement on March 3.
In Education, we continue to expect another year of good profit growth. In the
US we are seeing healthy demand for instructional materials and educational
services and our businesses are performing well competitively, benefiting from
our consistent investment in content, services and technology. The integration
of the Harcourt Assessment business is on track and EnVision Math, our new
integrated print-and-digital elementary maths programme, has made a very good
start in the major new adoptions this year. Outside the US our education
businesses are continuing to perform well with strong publishing programmes, new
digital services and the contribution of the Harcourt international education
businesses.
At the Financial Times Group, we expect continued profit growth this year. FT
Publishing is showing sustained growth in subscription, circulation and
advertising revenues. The Financial Times was recently named Newspaper of the
Year at the British Press Awards and Mergermarket's strong trading momentum
continues, supported by high renewal rates on subscriptions. Interactive Data
yesterday reported strong revenue and profit growth in the first quarter, with
continued high renewal rates and healthy new business momentum, and maintained
its full-year guidance.
Penguin has made a strong start to the year and is on track to achieve double
digit profit margins in 2008. First-half publishing highlights include Eckhart
Tolle's A New Earth (picked for Oprah Winfrey's Book Club), Junot Diaz's The
Brief Wondrous Life of Oscar Wao (awarded the Pulitzer Prize for Fiction) and
Sebastian Faulks' forthcoming James Bond novel Devil May Care, celebrating the
centenary of Ian Fleming's birth.
Marjorie Scardino, chief executive, said: "Most of our trading lies ahead of us,
but the start we've made to the year makes us confident that this will be
another good one for Pearson. Our strategy, and the changes we've made to
accelerate it, produced record results last year and made Pearson a more
resilient company. We expect another year of good earnings growth, even in these
more uncertain economic conditions."
Board appointments
Pearson is also announcing today the board appointments of CK Prahalad as a
non-executive director and Will Ethridge as an executive director, both
effective on 1 May 2008.
Coimbatore Krishnarao ('CK') Prahalad is the Paul and Ruth McCracken
Distinguished University Professor of Corporate Strategy at the University of
Michigan Ross School of Business. He is a specialist in corporate strategy and
the author of a number of bestselling business books including Competing for the
Future (with Gary Hamel), The Future of Competition (with Venkratram Ramaswamy)
and The Fortune at the Bottom of the Pyramid: Eradicating Poverty through
Profits. His latest book, The New Age of Innovation (with MS Krishnan), will be
released in May 2008.
Will Ethridge joined Pearson in 1998 following the Simon & Schuster education
acquisition and was appointed chief executive of the US Higher Education and
Professional Group. In 2003 his responsibilities were expanded when he became
chief executive of Pearson's Higher Education, International and Professional
publishing. In March 2008 he was appointed to a new role as chief executive of
Pearson's North American education business, spanning School, Higher Education
and Professional publishing, assessment, technology and services. North American
education is Pearson's largest division with approximately $3.5bn of sales in
2007. He also serves as vice chairman of the Association of American Publishers
(AAP).
Also in March 2008, John Fallon was appointed chief executive of Pearson's
International education businesses, reporting to Marjorie Scardino and joining
the Pearson Management Committee.
Glen Moreno, chairman, said: "CK and Will are valuable additions to our Board.
They will bring their very considerable knowledge and experience to our
discussions on education, emerging economies and technology, which are all
central to Pearson's long-term growth strategy."
Pearson's AGM takes place today at the Queen Elizabeth II Conference Centre,
Broad Sanctuary, London SW1P 3EE at 12 noon.
ENDS
For more information:
Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith + 44 (0) 20 7010 2310
Forward looking statements
Except for the historical information contained herein, the matters discussed in
this statement include forward-looking statements. In particular, all statements
that express forecasts, expectations and projections with respect to future
matters, including trends in results of operations, margins, growth rates,
overall market trends, the impact of interest or exchange rates, the
availability of financing, anticipated costs savings and synergies and the
execution of Pearson's strategy, are forward looking statements. By their
nature, forward looking statements involve risks and uncertainties because they
relate to events and depend on circumstances that will occur in future. There
are a number of factors which could cause actual results and developments to
differ materially from those expressed or implied by these forward looking
statements, including a number of factors outside Pearson's control. These
include international, national and local conditions, as well as competition.
They also include other risks detailed from time to time in the company's
publicly-filed documents. Any forward looking statements speak only as of the
date they are made, and Pearson gives no undertaking to update forward-looking
statements to reflect any changes in its expectations with regard thereto or any
changes to events, conditions or circumstances on which any such statement is
based.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PEARSON plc
Date: 25 April 2008
By: /s/ STEPHEN JONES
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Stephen Jones
Deputy Secretary