The group saw pre-tax losses of £2.6bn following fall in US textbook sales.

The 2016 losses are the biggest recorded in the group's history.

Despite Pearson being the world's biggest education publisher, around £2bn was wiped from its stock market value in January.

 

In the same month, the company flashed its profit forecast by £180M, and scrapped its 2018 target of £800M.

The US textbook market is seeing decline due to the transition to digital learning.

Two thirds of Pearson's revenues and profits come from their US business accounts.