Our 2023 Annual Report

Strategic progress. Sustainable profitable growth.

The future of learning is vibrant, high quality learning experiences that help everyone realise the life they imagine. This Annual Report showcases strong 2023 growth, driven by our five divisions and our continued efforts to create interconnectivity between them, allowing us to serve ever more people through their lifelong learning journey.

2023 Highlights

In 2023, our products and services reached
millions and millions of users around the world.

Achieved underlying sales growth increase of 5%*

Achieved adjusted operating profit of £573m, an increase year on year of 31% on an underlying basis

Acquired PDRI to drive additional growth in our biggest business: Assessment & Qualifications

Delivered £120m cost savings, accelerating Group adjusted operating profit margin expansion to 16%

Launched beta versions of generative AI tools in Mastering and MyLab and Pearson+

Strong cash performance, with free cashflow of £387m and launched a £300m share buyback

Passed milestone of 1m cumulative paid subscriptions for Pearson+

 

*Taking portfolio adjustments and FX into account and excluding the OPM and strategic review businesses.

Our Strategy in Action