London, August 17, 2020 – Pearson, the leading education company, has announced a rise in pretax profit and revenue for the first half of the year. This achievement is a result of the company’s strategic advancements and operational progress, aligning with its full-year expectations.
Positive Financial Results
Pearson’s pretax profit for the first six months of the year reached £236 million, compared to £185 million in the previous year. The adjusted operating profit, which excludes exceptional and one-off items, increased by an impressive 44% to £250 million. This growth was fueled by both revenue expansion and the successful implementation of a cost efficiency program.
Sales for the education giant rose to £1.88 billion, demonstrating a steady increase from the previous year’s figure of £1.79 billion.
Interim Dividend and Future Outlook
The board of Pearson has declared an interim dividend of 7.0 pence per share, reflecting its confidence in its financial performance. This is an improvement from the 6.6 pence per share dividend declared in the same period last year.
Looking ahead, Pearson reiterates its expectations for the full year, including revenue, adjusted operating profit, and profit margin outlook. The company anticipates low to mid-single-digit revenue growth in 2023, excluding its online program management company and Strategic Review businesses.
A Message from the CEO
Andy Bird, Chief Executive of Pearson, expressed satisfaction with the company’s operational execution and efficiency achievements. He emphasized the focus on long-term growth while effectively managing costs.
