Pearson Plc Reports 14% Underlying Growth in Adjusted Operating Profit for H1 2026

The Tip Desk · July 31, 2026 · 2 min read

The lifelong learning company reiterates its full-year 2026 guidance following strong performance in Virtual Learning and Enterprise segments.

Pearson Plc reported that underlying Group revenue grew 4% in the first half of 2026, with headline revenue increasing 3% to £1,779 million [2, 13]. Group adjusted operating profit rose 14% on an underlying basis to £276 million, while statutory operating profit increased 5% to £252 million [2, 13]. The company attributed the growth to operating leverage, cost efficiencies, contributions from the eDynamic Learning acquisition, and the impact of a 2025 product development impairment.

Segment performance was mixed. Virtual Learning revenue grew 19% on an underlying basis, driven by enrolment growth and favorable mix [6, 8]. Enterprise Learning & Skills revenue grew 7%. Higher Education revenue increased 2%, supported by US Courseware and K12, though this was partially offset by declines in International Higher Education. Conversely, English Language Learning revenue declined 3% due to difficult market conditions for the Pearson Test of English (PTE). Assessment & Qualifications saw a 2% underlying revenue increase, though adjusted operating profit for the segment declined 6% due to sales mix and one-time delivery costs.

Financial highlights include a 19% increase in adjusted earnings per share at constant exchange rates and a 5% increase in the interim dividend. The company also completed a £350 million share buyback. Net finance costs increased on a headline basis to £47 million from £22 million in H1 2025, primarily due to higher average net debt and fair value losses on investments.

Regarding future outlook, Pearson is reiterating its 2026 guidance, which includes mid-single digit underlying revenue growth, free cash flow conversion of 90%-100%, and adjusted operating profit between £640 million and £685 million [2, 10]. Over the medium term, the company aims for mid-single digit underlying revenue growth CAGR and an average annual margin increase of 40 basis points.