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Three Quick Facts: Cerillion, Pendragon and Pearson


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1.Cerillion expects better than forecast full year

There’s an upbeat trading statement out from Cerillion LON:CER, the billing and CRM company, this morning. Critically this notes that while revenues are expected to be marginally ahead of expectations, full-year pre-tax profits will be materially higher than consensus and free cash should advance to around £20m, up from £13.2m a year ago.

#2. Pendragon extension to offer window

Car dealers Pendragon LON:PDG have this morning announced an extension to the offer window following the unsolicited approach by Hedin Mobility Group. This should have expired today, by which point the acquiring party was required to have made a firm offer or walk away. The deadline has now been pushed to late November, although it comes with the usual caveat that this doesn’t confirm a deal will follow.

#3. Pearson trading update sales up 7% as expected

Educational publisher Pearson LON:PSON has issued a nine month trading update to 24th October. Underlying sales are 7% higher year-on-year and full-year expectations have been reaffirmed. The company notes continuing momentum for the business and £100m worth of efficiencies to be delivered in 2023, which will accelerate margin expectations in the medium term. Higher education was the only sector to post a decline in sales, although this had already been anticipated. The £500m share buyback continues.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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