Pearson lifted its interim dividend after reporting better than expected first-half profit and underlying sales as demand for online learning increased.
The education group posted an adjusted operating profit of £127m in the six months to June 30 from a £23m loss last year, beating a company compiled range of £100m – £120m. Underlying revenue rose 17% to £1.59bn.
An interim dividend of 6.3p was declared, up 5%. The company maintained its full-year outlook.
“Pearson has made good strategic, operational and financial progress in the first half of 2021 leading to healthy revenue and profit growth in the period,” said chief executive Andy Bird.
“This reflects a strong rebound from 2020 with encouraging momentum in the underlying business.”
Global Online Learning sales rose 25% due to strong demand for Virtual Schools enrolment in the US, Global Assessment sales were up 34% following the cancellation of exams last year, and its US Higher Education business fell by 2%.
