UK publishing group, Pearson, expects to report “significant” underlying growth in sales and earnings per share for 2005, with the owner of the Financial Times and Penguin Books saying trading was good last year, with 2006 looking to be “another good year.”
Pearson revealed that it enjoyed strong trading at the end of 2005, helped by a good performance in its key North American education market and group across the rest of the group.
The Financial Times sustained an increase in advertising revenues seen in the first half of 2005, resulting in the newspaper breaking even for the full year.
In a statement to the city, the company said: “Pearson traded strongly through the end of 2005, in line with our expectations. Our education business maintained its strong performance in school, higher education, professional and international markets.”
Pearson’s Penguin division had a good fourth quarter, while its majority owned technology research subsidiary company, IDC, enjoyed its best quarter so far.
Looking towards 2006, Pearson remains optimistic, saying it is: “on track to report significant underlying growth in sales, adjusted earnings per share, free cash flow and return on invested capital.”
These results are in line with earlier predictions made by the business, revealing that trading in the first nine months had seen sales rise by 10%, while operating profit increased by 20% (see Pearson Optimistic As FT Looks Set To Break Even).
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