Pearson Half Year Report
Underlying revenue up 17% to £1,597m · Global Online Learning up 25% driven by strong growth in US Virtual Schools; modest growth in OPM with good underlying growth offset by discontinued programs.· Global Assessment grew 34% with growth across all divisions, following the closure of test centres and schools and exam cancellations in 2020. · North American Courseware up 2%, driven by a recovery in Canada which more than offset a 2% decline in US Higher Education Courseware. · International grew 8% with growth in courseware, clinical assessment and PTE following school, bookstore and test centre closures last year. Statutory results · Sales increased 7% to £1,597m (2020: £1,492m) reflecting underlying performance, partially offset by portfolio changes and currency movements. · Statutory operating profit £9m in H1 2021 (H1 2020: £107m), with the decrease due to the profit on disposal of Penguin Random House in 2020 and restructuring costs in 2021 partially offset by improved trading and reduced intangible charges. · Statutory EPS 2.3p (H1 2020: 6.3p).