Pearson plc Files Interim Results Report
Ticker: PSORF · Form: 6-K · Filed: Jul 29, 2024 · CIK: 938323
| Field | Detail |
|---|---|
| Company | Pearson PLC (PSORF) |
| Form Type | 6-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 17 min |
| Key Dollar Amounts | $15b, $80b |
| Sentiment | neutral |
Sentiment: neutral
Topics: interim-results, sec-filing, foreign-private-issuer
TL;DR
Pearson plc filed its July interim results, standard procedure for foreign issuers.
AI Summary
Pearson plc filed a Form 6-K on July 29, 2024, reporting its interim results for the month of July 2024. The filing is a routine report for foreign private issuers and does not contain specific financial figures or operational updates beyond its classification as a report of interim results.
Why It Matters
This filing indicates Pearson plc is providing an update on its performance, which could influence investor decisions regarding the company's stock.
Risk Assessment
Risk Level: low — This is a routine filing for interim results and does not contain new material financial information or significant corporate actions.
Key Players & Entities
- PEARSON PLC (company) — Registrant
- 80 Strand London, England WC2R 0RL (address) — Principal executive office and mailing address
FAQ
What type of report is this Form 6-K filing?
This Form 6-K is a Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 Under the Securities Exchange Act of 1934.
What period does this report cover?
This report covers the month of July 2024.
Does Pearson plc file annual reports under Form 20-F or Form 40-F?
Pearson plc files annual reports under Form 20-F, as indicated by the checkmark in the filing.
What is the principal executive office address for Pearson plc?
The principal executive office address is 80 Strand London, England WC2R 0RL.
What is the filing date of this Form 6-K?
This Form 6-K was filed on July 29, 2024.
Filing Stats: 4,361 words · 17 min read · ~15 pages · Grade level 12.8 · Accepted 2024-07-29 07:25:11
Key Financial Figures
- $15b —   We are leaders today in a c.$15bn subsegment of the U.S. learning market
- $80b — play in a larger, and faster growing c.$80bn addressable market.    &
Filing Documents
- a1394y.htm (6-K) — 1041KB
- 0001654954-24-009510.txt ( ) — 1042KB
Forward looking statements:   Except
Forward looking statements:   Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing, anticipated cost savings and synergies and the execution of Pearson's strategy, are forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in future. They are based on numerous assumptions regarding Pearson's present and future business strategies and the environment in which it will operate in the future. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including a number of factors outside Pearson's control. These include international, national and local conditions, as well as competition. They also include other risks detailed from time to time in Pearson's publicly-filed documents and you are advised to read, in particular, the risk factors set out in Pearson's latest annual report and accounts, which can be found on its website (www.pearsonplc.com). Any forward-looking statements speak only as of the date they are made, and Pearson gives no undertaking to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes to events, conditions or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on such
forward-looking statements
forward-looking statements. KPIs     KPI Objective KPI Measure H1 2024 H1 2023 Digital Growth Drive digital sales growth OnVUE volumes 1.2m 1.5m* Higher Education US digital subscriptions 4.5m 4.4m + PTE volume 546k 606k Consumer Engagement Create engaging and personalised consumer experiences NPS for Connections Academy +67 +67 NPS for PTE +57 +56 Pearson+ registered users 5.0m 4.7m Mondly paid subscriptions 532k 473k Workforce Skills registered users 5.4m 5.3m Product Effectiveness Improve the effectiveness of our products to deliver better outcomes PTE speed of score return 1.1 days 1.1 days VUE test volumes 10.9m 10.8m* VUE partner retention 99.7% 98.0% Workforce Skills number of enterprise customers 1,487 1,556 Higher Education product usage - text units 2.1m 2.0m   *H1 2023 figures have been restated for adjustments made in H2 2023. + H1 2023 US digital subscriptions restated from 4.5m to 4.4m due to removal of non-paying subscribers. The above table is a subset of our full list of strategic KPIs, which will be reported on alongside full year results. For a full list of KPI measure definitions, please refer to:   https://plc.pearson.com/en-GB/purpose/our-targets-kpis   Operational review   £m H1 2024 H1 2023 Headline growth CER growth 1 Underlying  growth 1 Sales           Assessment & Qualifications 811 796 2% 4% 2% Virtual Learning 254 373  (32%)  (31%)  (8%) Higher Education 358 379  (6%)  (4%)  (2%) English Language Learning 188 184 2% 11% 11% Workforce Skills 143 140 2% 3% 6% Strategic review 3 - 7  (100%)  (100%)  (100%) Total 1,754 1,879  (7%)  (4%) 1% Total, excluding OPM 2   and Strategic Review