Education publisher Pearson reveals big drop in sales due to schools and exam centres closing
Education publisher Pearson revealed a big drop in sales after schools and exam centres were closed.
Demand for printed textbooks has fallen but lockdown accelerated the take-up of internet-based courses and learning materials, cushioning the blow.
Testing times: Demand for printed textbooks has fallen but lockdown accelerated the take-up of internet-based courses
Outgoing boss John Fallon said: ‘Uncertainty remains, but the purpose, grit, speed and ingenuity shown by colleagues is helping educators and learners around the world to adapt.’
Overall, sales tumbled 18 per cent to £1.5billion in the first half of 2020, plunging it into a £23m underlying loss – compared with a £144m profit the previous year.
It said that it has earmarked £140m for ‘Covid-19 trading pressures’.