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  "documentTitle": "Pearson | Investor Presentation Deck | 20 slides",
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      "text": "£120M of cost efficiencies identified supporting margin expansion in 2023",
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      "text": "*Excluding OPM and strategic review\n**Adjusted operating margins",
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      "text": "Group, 2022, 2023, 2025, Revenue, £3,841m, Low- to mid-single digit growth*, Mid-single digit (3-year CAGR 2022-25), Margins**, 12%, Mid-teens, Upper end of mid-teens, Capex & product development, £196m, £357m, Capex reduces, reinvested into product development, Capex reduces, investment mix shifting towards product development, Cash conversion, 88%, > 90%, > 90%, Return on capital, 8.7%, Improvement, Double digit",
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