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Pearson PLC: Trading Ahead Of Expectations, Underlying Sales Growth At 5%

(RTTNews) - Pearson PLC (PSO, PSON.L) reported that its Group underlying sales for the full year was up 5% and adjusted operating profit of approximately 455 million pounds, up approximately 11% on an underlying basis compared to 2021, ahead of expectations. The Group said the strong trading performance reflects good result in English Language Learning, Virtual Learning, Workforce Skills and Assessment & Qualifications, offset by an expected, albeit reduced, decline in Higher Education.

Pearson PLC stated that it is on track to deliver approximately 120 million pounds of cost efficiencies in 2023, weighted to Higher Education, some 20 million pounds of which will be used to offset inflationary pressures.

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