The company logo outside the Pearson offices in London, Britain, August 4 2017. Picture:NEIL HALL/REUTERS
Emerging from years of turbulence sparked by the US education market moving online, Pearson under new boss Andy Bird is starting to see the fruits of a strategy to sell directly to consumers as they move through school, college and work. “We’re seeing clear operational and financial benefits from being a more integrated, holistic company. And that’s reflected in our performance,” Bird said of half-year underlying sales up 6% and adjusted operating profit up 22%.
Pearson said its new structure of five divisions, underpinned by a direct to consumer team, had helped to identify £100m of costs that could be cut by next year, bringing a mid-teen margin target forward to 2023, from 2025.