LONDON (dpa-AFX) - Pearson Plc (PSON.L), a British multinational publishing and education company, said in a trading update on Wednesday that its sales rose by 8 percent for the fiscal 2021, amidst a solid demand for its products and services from across the globe, and it foresees 33 percent growth in adjusted operating profit.
The London-headquartered firm said it projects an adjusted operating profit of around 385 million pounds, a rise of around 33 percent year-on-year.
During the year, sales in Assessment & Qualifications were up 18 percent, driven by the strength of Professional Certification (VUE), Clinical Assessment and US Student Assessment. Meanwhile, sales in Virtual Learning grew by 11 percent for the full year with sales growth of 17 percent in Virtual Schools, owing to strong enrolment growth in the prior academic year.
Andy Bird, Chief Executive, commented, 'We made great progress in Q4 and are delivering a strong full year performance, with sales growth and profit exceeding our original guidance. Led by a strong management team, we are repositioning the business, driving digital innovation and an increased focus on the consumer through the launch of Pearson+. We are well placed to build on this momentum in the year ahead and look to the future with confidence.'
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