UK equity manager favourite Pearson sheds 15% on profit warning

Train holds 5.3% in stock

UK educational publisher Pearson has shed 15% this morning, following a warning on its full-year profits.

The company, which is owned by some of the UK's most prominent equity managers, said this morning full-year profits are likely to come in at the lower end of the range, prompting investor exodus. The group said profits are set to take a hit from lower enrolment figures at some US universities and a fall in school textbook purchases in various regions of South Africa. At a result the stock price fell 15.3% by 11am, trading at £10.06, making Pearson the biggest faller in the FTSE 100 index. The stock has been backed by such prominent UK equity investors as Nick Train, Blake Hutchins,...