Pearson released their full results for 2023, reporting sales of £3.67 billion, down 4.3 percent from £3.84 billion in 2022, “reflecting business performance, portfolio changes and currency movements.” Operating profit was £498 million, up from £271 million, due to “increased trading profits” and the cost savings from restructuring, and was “partially offset by a net loss related to acquisitions and disposals.” This sheds light on the company’s trading update issued in January, which noted that sales were up 5 percent—for select divisions, excluding virtual learning and those under strategic review. Higher Education continued to fall, in line with expectations, down […]
