Pearson PLC (LSE:PSON) said its first-half revenue jumped 12% while adjusted operating profit climbed 26% on the back of continued "strategic and operational momentum" across the business.
The publishing and education company also reaffirmed its guidance for the full year.
In the six months to 30 June 2022, adjusted operating profit was £160mln, compared with £127 mln in the same period last year, while sales jumped to £1.78bn from £1.59bn as a result of portfolio changes, and currency fluctuations. On an underlying basis, adjusted operating profit increased by 22% and sales by 6%, the FTSE 100 company said in its interim results statement.
Reported pretax profit soared to £179mln compared to £4mln, while EPS jumped to 17.5p from 2.3p.
The company is hiking its interim dividend by 5% to 6.6p.
"Pearson has delivered another encouraging financial performance in the first half of the year. We continue to make excellent strategic and operational progress, with momentum across the business," said chief executive Andy Bird.
"Our focus on delivery and execution remains and full year 2022 expectations are reaffirmed."
Pearson said it is launching a strategic review of its online programme management (OPM) business and will update the market once the review is concluded. The OPM business saw a revenue decline of 2% in the first half, due to weaker underlying Spring enrolments, which fell 1%.
The group said at least £100mln of further efficiencies have been identified and will be delivered in 2023.
Shares of the company were 6.05% higher at 802.40p in early trades.