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Pearson plc (PSO) Q3 2025 Sales Call Transcript

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Unknown Executive

Good morning, everyone, and welcome to Pearson’s 2025 9-month Trading Update. [Operator Instructions]. And with that, I’ll hand over to Omar.

Omar Abbosh
CEO & Executive Director

Good morning, everyone, and thank you for joining us today for our 2025 9-month trading update. I’m here in London with our CFO, Sally Johnson. And as always, I appreciate your time and interest in Pearson’s journey as we continue to renew this company by executing against the 3 key priorities that we set out at the start of the year. You’ll have seen this morning’s announcement already. So I’ll just pick out a few points on our progress, and then we’ll open it up for Q&A.

Firstly, on our financial performance. Sales growth accelerated to 4% in Q3, and I’m pleased with the broad-based execution across our teams that they’re showing and in particular, the way that we’re navigating the market headwinds that I outlined at our interim results. When we look at the business units, Virtual Learning delivered a really standout result in the back-to-school period with 17% sales growth, driven by excellent enrollment performance, reflecting improvements in our digital marketing approach, enrollment process and career offering.

Assessment & Qualifications growth accelerated to 4% in Q3, with Pearson VUE returning to growth as expected, driven by new contract launches. These were offset in part by ongoing headwinds in federal hiring and spending that continues to affect PDRI. In Enterprise Learning & Skills, we

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