British education publisher Pearson said it expected earnings to be at the bottom end of its range due to lower enrolments at some colleges in the US and lower school text book purchases in some parts of South Africa.
Pearson said for 2015 earnings per share would come in at the lower end of a 70 pence to 75 pence range, a range which was lower than one forecast earlier this year.
The reduction was partly to take account of its sale of the Financial Times newspaper.
The decline from a 75 pence to 80 pence range forecast in February was also a result of the disposal of PowerSchool and its stake in The Economist Group as well as movements in exchange rates, Pearson said.
The disposals, the biggest of which was the $1.3 billion FT sale in July, left Pearson focused on education publishing, where it said ongoing "cyclical and policy-related factors" would help push EPS to the lower-end of guidance.
"The key cyclical and policy-related factors which have been hurting our markets for some years have yet to improve," chief executive John Fallon said in a statement.
In the US, its biggest market, Pearson said its market share gains were offset by fewer enrolments in Community Colleges, more returns and regulatory changes.
Earnings per share of 70 pence per share for 2015 would still give Pearson its first rise in EPS since 2011.