Earnings release
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Registered address : Pearson plc , 80 Strand , London WC2R ORL Registered in England 5372 Pearson Pearson 2021 Nine Month Trading Update ( Unaudited ) 15th October 2021 Pearson , the world's leading learning company , is today providing an update on trading for the nine months ending September 30th 2021 . Andy Bird , Chief Executive said : " 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 . " 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 . " Highlights Good strategic progress , full year outlook unchanged . Strong performance in Assessment & Qualifications helps offset declining enrolments in Higher Education Group underlying revenue up 10 % for the nine months • • • • • Virtual Learning 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 Higher Education revenue was down 7 % as growth in international courseware was offset by a decline in US Higher Education Courseware English Language Learning revenue grew 15 % with strong growth in Pearson Test of English ( PTE ) and courseware following test centre and school closures in 2020 Workforce Skills revenue grew 5 % due mainly to growth in GED and Talent Lens following COVID - 19 impacts in 2020 Assessment & Qualifications revenue grew 24 % with a strong performance across Pearson VUE , School Assessment and Clinical Assessment Revenue in businesses held under Strategic Review grew 7 % driven by a COVID - 19 recovery in courseware and a phasing benefit in school purchases in South Africa in Q3 2021 Continued good strategic and operational progress with Pearson + advancing well • • • • . New organisational structure fully operational ; Pearson reporting against its new divisions New US learning app , Pearson + , launched in late July and is progressing well with over 2m registered users , and an App store rating of 4.7 Workforce Skills division strengthened with the completion of a strategically significant acquisition in Faethm , the workforce Al and predictive analytics company The disposal of Brazilian K12 Sistemas business completed on the 1st October 2021 Moving to the next stage of our strategic review , we have commenced marketing the majority of Pearson's international courseware local publishing businesses 2021 outlook reaffirmed Pearson remains on track to deliver adjusted operating profit for FY21 in line with market expectations *