Lessons learned

8 March 2021 By Ed Cropley Follow @edwardcropley

The 6 bln pound firm is doubling down on a year of virtual learning by selling education directly to individuals. Winning mass-market adherents will take time and is not a given. Yet anything that reduces its reliance on declining textbook sales is a step in the right direction.

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Pearson said on March 8 it would target opportunities to sell its online learning packages beyond schools and colleges as part of a new strategy to sell directly to consumers.

New Chief Executive Andy Bird, a former Walt Disney executive, also said he was placing Pearson’s international courseware and local publishing businesses under strategic review.

The education company reported a 10% drop in underlying revenue for 2020 to 3.4 billion pounds. Underlying adjusted operating profit fell 40% to 313 million pounds.

Pearson shares were up 0.9% at 768 pence by 0910 GMT on March 8.

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