Pearson says ‘on track’ to deliver 2026 guidance

The company expects, “Assessment & Qualifications: Low to mid-single digit underlying sales growth, driven by new contracts, products and pricing. Returning to growth from Q2, supported by new business and recently awarded contracts. Virtual Learning: Stronger growth than 2025, particularly in H1, driven by a full year of enrolment growth. Higher Education: Will grow more than 2025, supported by continued product and platform innovation, pricing and Inclusive Access in our core US courseware business, with improvement in the K12 channel. English Language Learning: Higher growth than 2025 driven by market share gains and pricing, with PTE returning to growth. Growth will again be Q4 weighted given the seasonality of the business. Enterprise Learning & Skills: Growth to be driven by a solid performance in Vocational Qualifications and strategic account growth in Enterprise Solutions. Adjusted Operating Profit: GBP 640M-GBP 685M at FX rates as at the end of 2025, which includes lower amortisation in 2026 following the 2025 product development impairment. Interest: Adjusted net finance costs of c.GBP 80M – includes associated costs of funding the GBP 350M share buyback. Tax rate: We expect the effective tax rate on adjusted profit before tax to be c.25%. Cash flow: We expect a free cash flow conversion of 90-100%.”