Shares in global learning company Pearson (LSE: PSON) dipped 1.6% on Wednesday despite the firm delivering a “strong financial performance in 2023”, leaving it “well-positioned for 2024 and beyond”.
The FTSE 100 publisher expects to report adjusted operating profit up over 30% year-on-year to around £570-575 million for 2023. Sales are seen up 5% to around £3.84 billion, driven by its Assessment & Qualifications and English Language Learning arms.
Pearson said the “strong full year performance” sets it up nicely thanks both to its robust cash generation and balance sheet. Net debt stands at less than £800 million.
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Investors will await further details on March 1 when Pearson announces its full-year results. Another update is due in July alongside first-half numbers.
Shares in Pearson have added 5.1% over the past year. The firm believes its key divisions have more room to grow despite the minor share price decline on Wednesday.
