{"id":801373,"date":"2025-01-16T02:18:05","date_gmt":"2025-01-16T07:18:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pearson-2024-trading-update-unaudited\/"},"modified":"2025-01-16T02:18:05","modified_gmt":"2025-01-16T07:18:05","slug":"pearson-2024-trading-update-unaudited","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pearson-2024-trading-update-unaudited\/","title":{"rendered":"Pearson 2024 Trading Update (Unaudited)"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth15 { width: 15% }\n.bwwidth70 { width: 70% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Pearson 2024 Trading Update (Unaudited)<\/b><\/p>\n<p><b>Delivered on financial<sup>1<\/sup> and strategic priorities for 2024. Entering 2025 with continued confidence. New strategic partnership with Microsoft progressing our Enterprise focus and technology transformation.<\/b><\/p>\n<p>LONDON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Underlying Group sales growth<sup>2<\/sup> of 3% for the full year, excluding OPM<sup>3<\/sup> and the Strategic Review<sup>4 <\/sup>businesses.<\/b><\/li>\n<li><b>Group adjusted operating profit of \u00a3595-600m at \u00a3:$ of 1.28 for the full year, up c.10% on an underlying basis compared to 2023, resulting in a margin of c.16.8% (2023: 15.6%).<\/b><\/li>\n<li><b>Free cash flow conversion in excess of 100%<sup>5<\/sup>, ahead of guidance.<\/b><\/li>\n<li><b>Successfully delivered our 2024 strategic priorities with progress in Enterprise and scaling AI across our products and services including the recent launch of an AI powered Digital Language Tutor (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fplc.pearson.com%2Fen-GB%2Fnews-and-insights%2Fnews%2Fpearson-launches-digital-language-tutor-tackle-workplace-communication&amp;esheet=54180900&amp;newsitemid=20250115045375&amp;lan=en-US&amp;anchor=link+here&amp;index=1&amp;md5=15ec6e52e9310a8f1a5275cc57696219\">link here<\/a>).<\/b><\/li>\n<li><b>New multi-year strategic Enterprise AI partnership with Microsoft (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fplc.pearson.com%2Fen-GB%2Fnews-and-insights%2Fnews%2Fpearson-and-microsoft-announce-multi-year-partnership-transform-future&amp;esheet=54180900&amp;newsitemid=20250115045375&amp;lan=en-US&amp;anchor=link+here&amp;index=2&amp;md5=f495b76db1391dbcc1f9baa0d8e08565\">link here<\/a>):<\/b>\n<ul class=\"bwlistcircle\">\n<li><b>Extending our commercial relationship with Pearson VUE;<\/b><\/li>\n<li><b>Future collaboration on innovation and joint go-to-market activities, including in AI upskilling; and<\/b><\/li>\n<li><b>Opportunity to enhance our AI and technology capabilities across the business.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Omar Abbosh, Pearson\u2019s<\/b><b>Chief Executive, said:<\/b><\/p>\n<p>\n\u201cI am pleased with the progress Pearson has made in 2024, successfully executing against our financial and strategic priorities. I\u2019m particularly encouraged to see the growing commercial momentum of our AI enhanced offerings and the strategic Enterprise partnerships that we have established, such as the latest with Microsoft. These reflect the strength of our proposition and the opportunities that lie ahead.<\/p>\n<p>\nThe Group is well positioned, with continued confidence, as we look to build on our strategic and operational progress and deliver long-term future value for our shareholders.\u201d<\/p>\n<p><b>Underlying sales growth<sup>2<\/sup> of 3% for 2024, excluding OPM<sup>3 <\/sup>and Strategic Review<sup>4<\/sup> businesses; 2% in aggregate<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAssessment &amp; Qualifications sales were up 3% for the full year and 4% in Q4. Pearson VUE performance was driven by favourable mix, with PDRI seeing good growth. In Clinical Assessment, sales grew due to pricing, digital product growth and successful new product launches. UK &amp; International Qualifications benefited from volume, pricing, and International growth. US Student Assessment performance was supported by several key contract renewals.<\/p>\n<\/li>\n<li>\nVirtual Schools sales decreased 1% for the full year, due to the previously announced partner school losses, the impact of which will normalise in H1 2025. 2024\/25 academic year enrolments were up 4% on a same school basis and we opened 3 new schools in 2024 taking our total number of schools to 40. Virtual Learning sales declined 4% for the full year attributable to the final portion of the OPM ASU contract in the first half of 2023. Virtual Learning sales declined 5% in Q4 as expected, driven by a tough comparator which saw funding improvements in Virtual Schools in 2023<\/p>\n<\/li>\n<li>\nHigher Education sales grew 1% for the full year and 2% in Q4, in line with expectations. In US Higher Education full year sales growth was driven by continued gains in adoption share, enrolments, and pricing, partially offset by mix impacts. In the year, there was growth of 3% in US digital subscriptions and 24% in Inclusive Access. We accelerated the rollout of AI within our products in the fourth quarter. Pearson+ registered users increased 1% compared to the prior Fall semester, with paid subscriptions flat over the same period and in addition we have been successful in monetising our Channels product.<\/p>\n<\/li>\n<li>\nEnglish Language Learning sales increased 8% for the full year with all three business sub-units contributing to growth. Institutional continues to deliver strong performance especially in the Middle East and LatAm. Pearson Test of English (PTE) performed well against a tough market backdrop of tightening migration policies. We continue to incorporate AI within our English Language business unit, launching our first AI powered Digital Language Tutor in the fourth quarter. In Q4 sales grew 11%, an improvement on Q3 due to phasing of revenue in Institutional as expected.<\/p>\n<\/li>\n<li>\nWorkforce Skills sales grew 6% for the full year, with a solid performance in both Vocational Qualifications and Workforce Solutions. Q4 sales increased by 4% driven by a strong performance in Workforce Solutions partially offset by Vocational Qualifications, as the business had a tough comparator with strong double digit growth in the prior year.<\/p>\n<\/li>\n<\/ul>\n<p><b>Evolution of Workforce Skills<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nPearson has a significant opportunity to help enterprises drive productivity and growth by transforming how they evaluate, assess, and reskill their workforce, as well as delivering world-class vocational training and qualifications. To sharpen our focus on the enterprise customer segment, we have formed a global enterprise sales team to enable us to better meet the needs of these customers with a full suite of Pearson solutions. From January this year, Workforce Skills will evolve to become Enterprise Learning and Skills, bringing together Pearson\u2019s enterprise sales capabilities globally (excluding those of Pearson VUE). The Enterprise Learning and Skills business unit will be led by Vishaal Gupta.<\/p>\n<\/li>\n<li>\nThis simplification of the business unit structure will result in modest revenues and costs being transitioned into the Enterprise Learning and Skills business unit from Higher Education. More detail on the financial impact of this change will be outlined at the full year results. We also note that the sub-unit Workforce Solutions becomes Enterprise Solutions.<\/p>\n<\/li>\n<\/ul>\n<p><b>Strong financial position<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nPearson\u2019s financial position remains robust, with a strong balance sheet, net debt of less than \u00a30.9bn and 2024 free cash flow conversion in excess of 100%<b><sup>5<\/sup><\/b>.<\/p>\n<\/li>\n<\/ul>\n<p><b>Executive Changes<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWe announce the appointment of Naseem Tuffaha as Chief Business Officer. Naseem has a successful track record of high growth and operational excellence at Microsoft, and more recently The Trade Desk.<\/p>\n<\/li>\n<\/ul>\n<p><b>Financial calendar<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nFull year results will be announced on 28 February 2025. We will hold an in-person presentation and Q&amp;A session, during which we will outline the 2025 outlook.<\/p>\n<\/li>\n<\/ul>\n<p><b>Financial summary<\/b><\/p>\n<p>\nUnderlying growth for the fourth quarter and financial year ended 31<sup>st<\/sup> December 2024 compared to the equivalent period in 2023.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Sales<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Q4<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Full Year<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAssessment &amp; Qualifications<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nVirtual Learning<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4)%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nHigher Education<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEnglish Language Learning<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWorkforce Skills<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nStrategic Review<sup>4<\/sup><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(100)%<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(100)%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3%<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2%<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwrowaltcolor0 bwpadl0 bwwidth70\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total, excluding OPM<sup>3<\/sup> and Strategic Review<sup>4<\/sup><\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3%<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>3%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nFor an accompanying data sheet providing 2024 metrics relating to sales across select key businesses as well as a breakdown of US Higher Education Courseware college units and Pearson+ metrics, please follow <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fplc.pearson.com%2Fen-GB%2Finvestors%2Fperformance%2Fresults-reports-presentations&amp;esheet=54180900&amp;newsitemid=20250115045375&amp;lan=en-US&amp;anchor=this+link&amp;index=3&amp;md5=fb0885a07fd706674c8329e6ee16cb49\">this link<\/a>.<\/p>\n<p><sup>1 <\/sup>2024 consensus on the Pearson website dated 30th August 2024; adjusted operating profit of \u00a3598m at \u00a3:$ 1.27. As a reminder, every 1c movement in \u00a3:$ rate will equate to approximately \u00a35m adjusted operating profit impact.<br \/>\n<br \/><sup>2 <\/sup>Throughout this announcement growth rates are stated on an underlying basis unless otherwise stated. Underlying growth rates exclude currency movements, and portfolio changes.<br \/>\n<br \/><sup>3<\/sup> We completed the sale of the Pearson Online Learning Services (POLS) business in June 2023 and as such have removed it from underlying measures throughout. Within this specific measure we exclude our entire OPM business (POLS and ASU) to aid comparison to guidance.<br \/>\n<br \/><sup>4<\/sup> Strategic Review is sales in international courseware local publishing businesses which have been wound down. As expected, there are no sales in these businesses in 2024.<br \/>\n<br \/><sup>5<\/sup> Free cash flow conversion calculated as free cash flow divided by adjusted earnings.<\/p>\n<p><b>About Pearson<\/b><\/p>\n<p>\nAt Pearson, our purpose is simple: to help people realise the life they imagine through learning. We believe that every learning opportunity is a chance for a personal breakthrough. That\u2019s why our Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world\u2019s lifelong learning company, serving customers with digital content, assessments, qualifications, and data. For us, learning isn\u2019t just what we do. It\u2019s who we are. Visit us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fpearsonplc.com&amp;esheet=54180900&amp;newsitemid=20250115045375&amp;lan=en-US&amp;anchor=pearsonplc.com&amp;index=4&amp;md5=25016a3c0ba64a33b9eba46cc8f5a8c9\">pearsonplc.com<\/a>.<\/p>\n<p><b>Notes<\/b><\/p>\n<p><b>Forward looking statements:<\/b> Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing, anticipated cost savings and synergies and the execution of Pearson\u2019s strategy, are forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in future. They are based on numerous assumptions regarding Pearson\u2019s present and future business strategies and the environment in which it will operate in the future. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including a number of factors outside Pearson\u2019s control. These include international, national and local conditions, as well as competition. They also include other risks detailed from time to time in Pearson\u2019s publicly-filed documents and you are advised to read, in particular, the risk factors set out in Pearson\u2019s latest annual report and accounts, which can be found on its website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pearsonplc.com&amp;esheet=54180900&amp;newsitemid=20250115045375&amp;lan=en-US&amp;anchor=www.pearsonplc.com&amp;index=5&amp;md5=0d32ef4025d89eddf1e978cecc2dde61\">www.pearsonplc.com<\/a>). Any forward-looking statements speak only as of the date they are made, and Pearson gives no undertaking to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes to events, conditions or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on such forward-looking statements.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250115045375r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250115045375\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250115045375\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations<br \/>\n<br \/><\/b>Alex Shore +44 (0) 7720 947 853<br \/>\n<br \/>Gemma Terry +44 (0) 7841 363 216<br \/>\n<br \/>Steph Crinnegan +44 (0) 7780 555 351<br \/>\n<br \/>Brennan Matthews +1 (332) 238-8785<\/p>\n<p><b>Media<br \/>\n<\/b><br \/>Teneo<br \/>\n<br \/>Ed Cropley +44 (0) 7492 949 346<\/p>\n<p>\nPearson<br \/>\n<br \/>Laura Ewart +44 (0) 7798 846 805<\/p>\n<p><b>KEYWORDS:<\/b> United Kingdom Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Finance Professional Services Internet Continuing Training University Data Management Education<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250115045375\/en\/2354670\/3\/Pearson_Logo_1920x1080.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Pearson 2024 Trading Update (Unaudited) Delivered on financial1 and strategic priorities for 2024. Entering 2025 with continued confidence. New strategic partnership with Microsoft progressing our Enterprise focus and technology transformation. LONDON&#8211;(BUSINESS WIRE)&#8211;Highlights Underlying Group sales growth2 of 3% for the full year, excluding OPM3 and the Strategic Review4 businesses. Group adjusted operating profit of \u00a3595-600m at \u00a3:$ of 1.28 for the full year, up c.10% on an underlying basis compared to 2023, resulting in a margin of c.16.8% (2023: 15.6%). Free cash flow conversion in excess of 100%5, ahead of guidance. Successfully delivered our 2024 strategic priorities with progress in Enterprise and scaling AI across our products and services including the recent launch of an AI powered Digital Language Tutor &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pearson-2024-trading-update-unaudited\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pearson 2024 Trading Update (Unaudited)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-801373","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pearson 2024 Trading Update (Unaudited) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pearson-2024-trading-update-unaudited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pearson 2024 Trading Update (Unaudited) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pearson 2024 Trading Update (Unaudited) Delivered on financial1 and strategic priorities for 2024. Entering 2025 with continued confidence. New strategic partnership with Microsoft progressing our Enterprise focus and technology transformation. LONDON&#8211;(BUSINESS WIRE)&#8211;Highlights Underlying Group sales growth2 of 3% for the full year, excluding OPM3 and the Strategic Review4 businesses. Group adjusted operating profit of \u00a3595-600m at \u00a3:$ of 1.28 for the full year, up c.10% on an underlying basis compared to 2023, resulting in a margin of c.16.8% (2023: 15.6%). Free cash flow conversion in excess of 100%5, ahead of guidance. 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