Segment information (Tables)

12 Months Ended

Dec. 31, 2023

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Schedule of Segment Reporting Information

All figures in £ millions Sales		2023			2022			2021
Assessment & Qualifications			1,559			1,444			1,238
Virtual Learning			616			820			713
English Language Learning			415			321			238
Workforce Skills			220			204			172
Higher Education			855			898			849
Strategic Review			9			154			218
Total sales			3,674			3,841			3,428

All figures in £ millions Adjusted operating profit		2023			2022			2021
Assessment & Qualifications			350			258			219
Virtual Learning			76			70			32
English Language Learning			47			25			15
Workforce Skills			(8	)		(3	)		27
Higher Education			110			91			73
Strategic Review			(2	)		15			19
Total adjusted operating profit			573			456			385

A reconciliation of the operating segments’ measure of profit to profit for the year is provided below:

		2023			2022			2021
Adjusted operating profit			573			456			385
Cost of major restructuring			–			(150	)		(214	)
Property charges			(11	)		–			–
Intangible charges			(48	)		(56	)		(51	)
UK pension discretionary increases			–			(3	)		–
Other net gains and losses			(16	)		24			63
Operating profit			498			271			183
Finance costs	6		(81	)		(71	)		(68	)
Finance income	6		76			123			62
Profit before tax			493			323			177
Income tax	7		(113	)		(79	)		1
Profit for the year			380			244			178

Summary of Operating Segments in Geographic Areas

The Group operates in the following main geographic areas:

					Sales		Non-current assets
All figures in £ millions	2023		2022		2021		2023		2022
UK		450		424		355		518		527
Other European countries		130		192		249		179		192
US		2,504		2,668		2,182		2,320		2,333
Canada		83		110		111		186		243
Asia Pacific		386		290		359		186		200
Other countries		121		157		172		20		17
Total		3,674		3,841		3,428		3,409		3,512