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Pearson quarterly sales rise 5%; driven by online learning
StockMarketWire.com
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Educational publishing and services group Pearson said its first-quarter sales had grown 5% year-on-year, underpinned by a strength in its online learning business.
The growth in sales for the three months through March included a 25% jump in online learning and a 1% rise in US courseware, offset by 2% in each of global assessment and international.
Pearson said it still expected its performance to be in line with a 2021 outlook outlined on 8 March.
'It's been a good start to the year for Pearson, delivering 5% sales growth in the quarter,' chief executive Andy Bird said.
'This is despite a longer period of disruption from Covid-19 in the quarter compared to last year.'
'We are building pace and momentum. We are making good strategic progress in our ongoing shift to digital, we are in the advanced stages of preparation for the forthcoming launch of our new college app and our organisational redesign is on track.'
Story provided by StockMarketWire.com
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