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Pearson continued to face problems after investors wiped more than £ 2bn , around 25 % , from the company ’s market value last year . Latest news includes the announcement that the company recently lost testing contracts in Texas and Ohio , worth £ 100 m and a recently - completed two - year restructuring programme , costing £ 180 m , was branded “ a missed opportunity ” and “ more of a reshuffle than a fundamental rethink ” by analysts . Furthermore , Pearson has played down another structural threat : the increase in textbook rentals . The proportion of college students buying at least one book has doubled since 2011 to about 50 % , according to the National Association of College Stores . Lastly , two of South Africa ’s largest provinces are yet to place any textbook orders for the new school year , which starts in January , leading to an expectation that textbook sales could be down as much as 40 % compared to last year .