Source: Sharecast
Pearson said its virtual learning unit was the standout performer, with sales up 21% on strong enrolment momentum and favourable funding phasing, while its enterprise learning and skills division rose 8%, supported by revenue from strategic partnerships, including Salesforce. Higher education delivered 2% growth, helped by continued resilience in US courseware and further gains in inclusive access, while English language learning increased 2% and assessment and qualifications dipped 1%, with phasing effects set to reverse in the second quarter.
The FTSE 100-listed company also highlighted that it was in a strong financial position, with low leverage and ample liquidity and noted that its £350m share buyback programme had continued to progress, with £219m repurchased by 31 March at an average price of 964p.
Looking ahead, Pearson reiterated its 2026 outlook, including mid‑single‑digit underlying sales growth and adjusted operating profits of £640m-685m. It also maintained its medium‑term targets for sustained margin improvement and strong cash conversion.
Chief executive Omar Abbosh said: "We have had an encouraging start to the year, with a good performance in line with our expectations and continued progress against our strategy. We are executing with discipline, advancing our core business and enterprise offerings, while applying innovative technologies to enhance learner experiences. We remain confident in the momentum we are seeing for 2026 and in our ability to deliver attractive growth for our shareholders."
As of 0810 BST, Pearson shares were up 1.76% at 1,100.50p.
Reporting by Iain Gilbert at Sharecast.com
See latest RNS at Investegate