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 2006
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'
21 April 2006
AGM trading update
Pearson, the international education and information company, is today providing
a trading update at its Annual General Meeting.
Pearson has made a good start to 2006. We are trading in line with expectations
and expect to achieve strong underlying earnings growth, good cash generation
and a further significant improvement in return on invested capital. As always,
our sales and profits will be concentrated in the second half of the year.
Glen Moreno, chairman, said:
"2005 was a very good year for Pearson with substantially higher earnings,
return on capital and cash returns to shareholders. We are encouraged by our
sustained momentum in the early part of 2006, and we are in good shape to
deliver positive results for customers and shareholders year after year."
Pearson Education achieved record results in 2005 and we expect sales growth in
the 3-5% range this year with margins improving further. In School, our major
state textbook adoption campaigns have begun well and our market-leading testing
business continues to gain share, winning long-term contracts in California,
Illinois, Louisiana, Maryland, Mississippi, New York and Utah. In Higher
Education we continue to benefit from our leadership position and from our new
publishing, customisation and technology. Our recent acquisition of EET, creator
of the most popular online assessment and tutorial programme for US college
physics students, complements our groundbreaking online learning platforms in
maths, economics and psychology. In Professional, we expect good growth in
testing and Government Solutions to more than offset weak market conditions for
technology publishing.
Penguin's strong publishing performance has continued into 2006 with a string of
bestsellers and award-winners in its major markets. We continue to expect
Penguin to grow at a similar rate to 2005, with margins improving steadily as we
benefit from efficiency gains.
The Financial Times Group improved profits by more than one-third in 2005 and we
expect a further significant increase this year. IDC expects another good year,
benefiting from similar business conditions to 2005, strong organic growth and
the contribution of recent acquisitions. The Financial Times is performing well
as circulation improves (up 4%), advertising revenue increases (up 13%) and we
continue to convert at least 80% of our advertising gains into profit.
Marjorie Scardino, chief executive, said:
"We have begun the year in the same fine form that we enjoyed throughout 2005.
We expect 2006 to be another good year for Pearson as we continue to increase
margins and grow ahead of our markets."
Ends
For more information:
Luke Swanson/ Simon Mays-Smith/ Deborah Lincoln + 44 (0) 20 7010 2310
Notes to editors
Pearson's AGM takes place today at the Queen Elizabeth II Conference Centre,
Broad Sanctuary, London SW1P 3EE at 12 noon.
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: 21 April 2006
By: /s/ STEPHEN JONES
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Stephen Jones
Deputy Secretary