Pearson Q3 Underlying Sales Rise; Confirms FY22 View - Quick Facts

(RTTNews) - Pearson Plc (PSON.L), a British publishing and education company, Monday said its underlying sales grew 7 percent in both the third quarter as well as in the first nine months of fiscal 2022.

Looking ahead, the company said it remains on track to deliver group sales and adjusted operating profit consensus expectations for fiscal 2022.

In its trading update, the company reported strong trading performance in the quarter with 36 percent rise in English Language Learning sales, 9 percent rise in Virtual Learning, 20 percent increase in Workforce Skills and 7 percent growth in Assessment & Qualifications. These were partly offset by an expected decline in Higher Education of 4 percent.

The company also said it is on track to deliver at least 100 million pounds of efficiencies in 2023 which will accelerate improved margin expectations from 2025 to 2023.