LONDON (Reuters) – Global education group Pearson said it would restructure the company to be able to serve consumers directly, after it posted 2020 operating profit in line with forecasts.
Pearson, providing a results and strategy update under its new chief executive, Andy Bird, said on Monday it would target opportunities to provide digital learning tools, a workforce skills gaps and demand for accreditation and certification.
It reported adjusted operating profit of 313 million pounds ($432 million), down from 581 million pounds in 2019, after the group was boosted by a demand for online learning but hit by the cancellation of exams.
“This year, as we recover from the impact of the pandemic, we are focused on delivering revenue and profit growth,” Bird said.
“Pearson’s strategy is now geared around three key demand-led global market opportunities which play to all our strengths: the rise in online and digital learning; addressing the workforce skills gap; and meeting the growing demand for dependable accreditation and certification.”
($1 = 0.7238 pounds)
(Reporting by Kate Holton, Editing by Paul Sandle and James Davey)
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