Business
Nine Month Trading Update
Nine Month Trading Update.
About this update from Pearson Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1636P\n Pearson PLC\n 15 October 2021\n \n \n \n \n \n \n \n \n \n Pearson 2021 Nine Month Trading Update (Unaudited)\n \n \n \n \n 15th October \n \n \n 2021 \n \n \n \n \n Pearson, the world's leading learning company, is today providing an update on trading for the nine months ending September 30th 2021.\n \n \n \n \n \n \n \n \n \n Andy Bird, Chief Executive said:\n \n \n \"We are encouraged with our strategic, financial and operational progress, despite the continuing effects of COVID-19 in some markets and its impact on enrolments in the back to school period. At this important stage of the year, we are on track to meet market expectations for the full year.\n \n \n \n \n \n \"Pearson+ has made a promising start following its launch in late July with over 2m registered users and a strong response from students, faculty and authors. This is a significant step for Pearson, strengthening our direct-to-consumer offer that will underpin our drive for sustainable growth over the coming years. The growing pace and momentum in Pearson reinforces our confidence going forward.\"\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n Good strategic progress, full year outlook unchanged. \n \n \n Strong performance in Assessment & Qualifications helps offset declining enrolments in Higher Education\n \n \n \n \n \n \n Group underlying revenue up 10% for the nine months \n \n \n · \n \n Virtual Learning \n \n revenue grew 14% reflecting strong enrolment growth in Virtual Schools in the 2020/21 school year and flat revenue in Online Program Management with underlying growth offset by discontinued programs\n \n \n · \n \n Higher Education \n \n revenue was down 7% as growth in international courseware was offset by a decline in US Higher Education Courseware\n \n \n · \n \n English Language Learning\n \n revenue grew 15% with strong growth in Pearson Test of English (PTE) and courseware following test centre and school closures in 2020\n \n \n · \n \n Workforce Skills\n \n revenue grew 5% due mainly to growth in GED and Talent Lens following COVID-19 impacts in 2020\n \n \n · \n \n Assessment & Qualifications\n \n revenue grew 24% with a strong performance across Pearson VUE, School Assessment and Clinical Assessment\n \n \n · \n Revenue in businesses held under Strat...