SAN DIEGO, April 9, 2025 /PRNewswire/ -- Pearson (FTSE: PSON.L) and its Pearson VUE business, the global leader in computer-based testing, released their newest Value of IT Certification Candidate Report. This comprehensive study, the ninth in an ongoing series, provides crucial insights into the evolving landscape of IT certification and its impact on professionals and organizations worldwide. The report, based on survey responses from nearly 24,000 IT professionals across the globe, offers a detailed anal ...

New brand identity reflects learning as a core human need, essential for personal happiness and progressLONDON, April 7, 2025 /PRNewswire/ -- Pearson (FTSE: PSON.L), the world's leading learning company, today unveiled a dynamic new brand identity that demonstrates its leadership as a lifelong learning company. More than just a refreshed logo, the rebrand represents a deep understanding of the evolving needs of learners worldwide.Pearson's brand evolution is grounded in a core belief: humans are born to lea ...

MNV-201 is Minovia’s second generation mitochondrial cell therapy product composed of autologous hematopoietic stem cells enriched with allogeneic mitochondria Rare Pediatric Designation granted MNV-201 is also being studied in a Phase Ib for low-risk Myelodysplastic Syndrome; Preliminary clinical data demonstrate safety and efficacy HAIFA, Israel, April 03, 2025 (GLOBE NEWSWIRE) -- Minovia Therapeutics Ltd, a clinical stage biopharmaceutical company advancing mitochondrial therapies for primary and seconda ...

Dave Treat to lead Pearson's digital and technology operation, expanding his current architectural and innovation responsibilities LONDON, March 31, 2025 /PRNewswire/ -- Pearson (FTSE: PSON.L), the world's lifelong learning company, announced today that Dave Treat, Pearson's Chief Technology Officer, will assume leadership of the company's digital and technology operation alongside his current architectural and innovation responsibilities, effective April 7. Dave will continue to report to CEO Omar Abbosh a ...

Financial Performance - Total sales for 2024 were £3,552 million, representing a headline decrease of 3% compared to £3,674 million in 2023[15]. - Adjusted operating profit was £600 million, reflecting a year-on-year increase of 10% on an underlying basis[15]. - Free cash flow reached £490 million, with a free cash flow conversion rate of 117%[15]. - Underlying sales growth increased by 3% year-on-year, taking into account portfolio adjustments and foreign exchange[15]. - In 2024, Pearson generated a total shareholder return of 36% and distributed £474 million through dividends and share buyback programs[68]. - The Board recommended a 6% increase in the final dividend, resulting in a full-year dividend of 24.0p per share[69]. - Pearson's return on capital in 2024 was 10.5%[66]. - Adjusted operating profit for 2024 is projected at £600 million, reflecting a year-on-year increase of 10% on an underlying basis[80]. - Underlying sales growth for the year was 3%, excluding OPM and Strategic Review businesses, with operating cash conversion at 110% and free cash flow conversion at 117%[81]. - The company expects underlying sales growth and adjusted operating profit to align with current market expectations for 2025[182]. - In 2025, the company anticipates free cash flow conversion of 90-100% and a £0.1bn State Aid repayment[182]. - The effective tax rate on adjusted profit before tax is projected to be between 24% and 25%[182]. - Intangible amortisation charges in 2024 were £41m, down from £48m in 2023, due to decreased amortisation from disposals and increased from acquisitions[187]. Business Growth and Strategy - The company scaled AI across its products and services, enhancing generative AI tools in Higher Education courseware and developing new AI tools in English Language Learning and Virtual Learning[15]. - In 2024, Higher Education returned to growth, driven by the expansion of AI study tools products in the US[31]. - The Assessment & Qualifications business demonstrated strong financial performance and customer retention, with plans for geographic expansion and new contract wins in 2025[23]. - The company signed deals with ServiceNow, Degreed, Microsoft, and AWS to prepare employees and organizations for the future of work[15]. - The Workforce Skills unit will evolve into Enterprise Learning and Skills, focusing on talent planning and development solutions[40]. - Pearson expanded its AI-powered study tools across various platforms, including Pearson+ eTextbooks and MyLab, enhancing educational support for students and teachers[44]. - The partnership with Microsoft aims to equip the workforce for the AI-driven economy, focusing on personalized learning and new AI credentials[61]. - Pearson's collaboration with AWS will accelerate the delivery of AI-powered learning solutions globally[64]. - The company plans to expand market presence by enhancing formative assessment capabilities and broadening the enterprise customer base[100]. - The company is focusing on building its capabilities in data analytics to identify skill gaps and provide solutions to workforce challenges[103]. - Investment priorities are aligned with growth opportunities, particularly in Assessments & Verification, Enterprise Skills, and Early Careers[103]. - The company plans to launch a new brand in 2025, aiming to strengthen its position as a leader in lifelong learning[105]. - The brand strategy focuses on reframing the perception of learning, emphasizing its importance alongside sleep, nutrition, and exercise[105]. - The company will implement the brand transformation in phases, starting with critical growth areas such as Enterprise Skilling and Early Careers[108]. - The company aims to refine its offerings based on ongoing consultations with employers, identifying Enterprise as a medium-term growth vector[120]. Customer Engagement and Community Impact - Engagement with over 9,000 educators and 2,000 students in the UK through the Pearson School Report provides insights into the educational landscape[116]. - In 2024, employees volunteered over 33,000 hours in support of 360 causes, with participation in Learning for Impact activities increasing to 11%[148]. - The company donated $90,360 in humanitarian aid to the American Red Cross for hurricane relief in 2024[148]. - The company conducted research on the impact of English skills on job satisfaction, with 85% of respondents indicating English is important for their work life[133]. - The company is committed to creating exceptional employee experiences, recognizing that managers account for up to 70% of employee engagement variance[152]. - In 2024, 88% of employees participated in the engagement survey, with a Grand Mean score of 4.16 on a 5-point Likert scale, up from 82% and 4.09 in 2023[154]. Digital and Product Development - Digital sales growth was reported at +3% in 2024, with underlying growth in group digital and digital-enabled sales also at +3%[169]. - The number of Pearson+ registered users reached 10.1 million in 2024, an increase from 9.8 million in 2023[169]. - The net retention rate for Credly enterprise customers was reported at 91% in 2024, compared to 88% in 2023[169]. - VUE test volumes reached 2.3 million in 2024, down from 2.7 million in 2023[169]. - The average time for PTE speed of score return improved to 1.3 days in 2024, up from 1.0 days in 2023[169]. - The number of Mondly paid subscriptions increased to 495,000 in 2024, compared to 432,000 in 2023[169]. - The company reported a Grand Mean score of 4.24 on a 5-point Likert scale for employee engagement, up from 4.21 in 2023[169]. Sales Performance by Segment - Sales decreased by £122m or 3% from £3,674m in 2023 to £3,552m in 2024[178]. - Adjusted operating profit increased by £27m or 5% from £573m in 2023 to £600m in 2024[178]. - Operating cash flow was £662m in 2024, up from £587m in 2023[175]. - Free cash flow increased to £490m in 2024 from £387m in 2023[175]. - Adjusted earnings per share rose to 62.1p in 2024 from 58.2p in 2023[175]. - In Assessment & Qualifications, sales increased by 2% on a headline basis and 3% on an underlying basis, with adjusted operating profit up 7% in underlying terms[191]. - Virtual Learning sales decreased by 21% on a headline basis and 4% on an underlying basis, with adjusted operating profit down 13% in headline terms[195]. - Higher Education sales decreased by 3% on a headline basis but grew by 1% on an underlying basis, with adjusted operating profit increasing by 12% in underlying terms[197]. - English Language Learning sales increased by 1% on a headline basis and 8% on an underlying basis, with adjusted operating profit up 30% in underlying terms[199]. - Pearson VUE sales were up 3% in underlying terms, with a contract renewal rate of 99% for 2024[192]. - In Clinical Assessment, sales increased by 4% in underlying terms due to pricing and digital product growth[194]. - US digital subscriptions grew by 3%, with Inclusive Access up 24%[198].

Core Insights - Pearson has appointed Arden Hoffman as an independent Non-Executive Director, effective June 1, 2025, bringing expertise in workforce and talent development [1][2][3] - Arden Hoffman currently serves as Chief People Officer at General Motors, where she leads talent management and organizational development [2][3] - The appointment aligns with Pearson's mission to empower individuals through learning and growth, reflecting a commitment to innovation in the workforce [2][3] Company Overview - Pearson's purpose is to help individuals realize their imagined lives through learning, emphasizing the importance of personal breakthroughs through educational opportunities [5] - The company positions itself as a lifelong learning organization, providing digital content, assessments, qualifications, and data to enhance real-life impact [5] Leadership Background - Arden Hoffman has a strong background in human resources and talent development, having held senior roles at Cruise, Dropbox, Google, and Goldman Sachs [2][3] - She holds an M.B.A from the Wharton School of the University of Pennsylvania and a bachelor's degree in Rhetoric from the University of California-Berkeley [3] Strategic Alignment - Omid Kordestani, Pearson Chair, expressed enthusiasm for Hoffman's addition to the Board, highlighting her passion for learning and experience in tech-driven businesses [3] - Hoffman's expertise is expected to be invaluable as Pearson navigates transformational shifts in learning and workforce dynamics [3]

Group 1 - Pearson plc has a long history, established in 1836, and has evolved from a traditional publishing house into a major company [1] - The mission of Grassroots Trading emphasizes providing objective and unbiased research, focusing on small- to mid-cap companies, and identifying opportunities in larger companies [1]

Financial Data and Key Metrics Changes - The company reported a 10% increase in profit, with the EBIT margin expanding from 15.6% to 16.9% [49] - Adjusted EPS increased by 7% to 62.1p, reflecting trading performance and reduced share count due to buybacks [50] - Free cash flow increased by more than £100 million to £490 million, with operating cash conversion at 110% and free cash flow conversion at 117% [57][58] Business Line Data and Key Metrics Changes - Assessments and Qualifications delivered solid performance, with a margin increase to 23% [55] - Virtual Learning margins increased to 13%, despite a decline in absolute profit due to previous school losses [56] - Higher Education returned to growth, with a 3.5% growth in H2, while English Language Learning grew by 8% [53][64] Market Data and Key Metrics Changes - The company opened three new virtual schools, contributing to a 4% increase in enrollments on a same-school basis [52] - The English Language Learning segment is expected to moderate growth due to potential impacts from elections on immigration rates [64] - Workforce Skills grew by 6%, driven by solid performance in Vocational Qualifications and recent partnership contracts [53] Company Strategy and Development Direction - The company aims to leverage AI across its products and services, enhancing customer engagement and operational efficiency [10][12] - Strategic partnerships with AWS and Microsoft are expected to enhance technology capabilities and expand market reach [44][45] - The focus for 2025 includes maintaining financial performance, leading in innovative technologies, and growing the enterprise customer segment [78][80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate changes in the U.S. administration, particularly regarding school choice and workforce development [95][96] - The outlook for English Language Learning remains positive despite short-term fluctuations, supported by demographic trends [64][105] - The company anticipates continued growth in all business units, with a focus on execution and capturing market share [61][64] Other Important Information - The company announced a £350 million share buyback program, reflecting confidence in future performance [50][71] - The balance sheet remains strong, with net debt at £0.9 billion and upgrades in long-term issuer ratings from Moody's and Fitch [59][60] Q&A Session Summary Question: What are the implications of partnerships with AWS and Microsoft? - The partnerships involve collaboration on product development, leveraging AI capabilities, and expanding existing customer relationships, with potential for mid-single-digit growth [90][94] Question: How might new U.S. administration policies affect the business? - The administration's focus on school choice and workforce development aligns well with the company's offerings, particularly in virtual schools and skills training [95][96] Question: Can you elaborate on the guidance for English Language Learning? - Growth is expected to moderate due to external factors, but the institutional business remains strong, with confidence in future demographic trends [105][106] Question: What visibility does the company have for H2 growth? - While there is no perfect visibility, the company has a detailed budget and is confident in growth dynamics based on contract renewals and market share [116][117] Question: How does the company plan to maintain growth in Higher Education? - The company is focusing on new business wins, product enhancements, and international market expansion to sustain growth [125][126]

Core Insights - Pearson has appointed Sharon Hague as President of its English Language Learning (ELL) division, effective March 3, 2025, to lead the business's expansion and development of AI-powered products globally [1][2][3] - Sharon Hague has a 25-year tenure at Pearson and previously served as Managing Director for Pearson School Qualifications and Assessments, where she successfully increased student reach and delivered consistent sales and margin growth [2][4] - CEO Omar Abbosh expressed confidence in Sharon's ability to continue the success of the ELL business, emphasizing her focus on learners and educators, as well as her experience with tech-powered solutions [3][4] Leadership Transition - Sharon Hague succeeds Gio Giovannelli, who is leaving Pearson after 12 years to pursue new opportunities, having significantly expanded Pearson's footprint and product portfolio in multinational markets [1][4] - The leadership change is expected to drive further growth in the ELL division, which is a key area for Pearson's global strategy [1][2] Company Overview - Pearson is recognized as a leading lifelong learning company, serving customers in nearly 200 countries with a workforce of approximately 18,000 employees [5] - The company's mission is to help individuals realize their potential through learning, emphasizing the importance of creating impactful learning experiences [5]

Confident in outlook building on year of good financial and strategic delivery. Further progress on AI and Enterprise priorities with new strategic partnership with AWS. Strong cash generation and financial position support launch of new £350m share buyback. LONDON, Feb. 28, 2025 /PRNewswire/ --Financial Highlights £m 2024 vs 2023 £m 2024 2023 Business performance Statutory results Sales (growth ex. OPM3 and Strategic Review4) 3,552 +3%1 Sales 3,552 3,674 Adjusted operating pro ...