UK education company Pearson reports 10% profit rise
LONDON, Feb 28 (Reuters) - British education company Pearson (PSON.L), opens new tab reported a 10% rise in full-year adjusted operating profit to 600 million pounds ($754.56 million), the top of its expectations, and said it would deliver more growth in 2025.
Chief Executive Omar Abbosh said the adoption of AI in its products was building good momentum across its business.
"We also continue to focus on expanding our presence in the highly attractive Enterprise skills market at a time where Pearson can play an important role in helping bridge the critical skills gap that impacts the economy, workforce and individuals," he said on Friday.
Pearson, which said it delivered a "solid" performance in assessment and qualifications and strong growth in English language learning, announced a 350 million pound share buyback and a 6% increase in its final dividend.
It said it was positive about 2025 and it expected to meet market expectations for sales growth, profit and cash flow.
Analysts expect adjusted operating profit to rise to 656 million pounds this year, according to a company-compiled consensus.
($1 = 0.7952 pounds)
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