Pearson, the international media company which owns the Financial Times, today said that the increased economic uncertainty caused by the war in Iraq has had an impact on current trading, especially at its business newspapers, where advertising revenues have fallen significantly in recent weeks.
“If advertising continues at the levels we’ve seen in the year to date, FT Group profits would be lower than current market expectations but still ahead of last year,” it said.
Pearson’s other businesses are performing in line with expectations and outperforming in their respective markets.
Shares in the group were down by 2.6% at 539.3p by early afternoon.