Education publisher Pearson reported a rise in revenues as growth in assessment and qualifications offset lower US higher education enrolments due to Covid-19 infections.
Group underlying profit for the or the nine months to September 30 rose 10% compared with a 17% increase in the first half against tougher comparatives. Pearson said it was on track to meet full-year expectations and added that 2 million people had registered for its new US learning app as it looked to move into the direct-to-consumer market beyond schools and colleges.
“While no market data for the full back to school period is available as yet, Pearson’s internal analysis indicates a decline in enrolments, particularly in community colleges, following a surge in COVID-19 infections in the key back to school period, and a strengthening of the U.S. labour market,” it said.
US Higher Education Courseware fell 9%, while Pearson’s Virtual Learning was up 14%, reflecting enrolment growth at Virtual Schools.
