Headline sales up 10% at FT Group

FT Group enjoyed a 10% rise in headline sales in the first nine months of the year, according to financial results released today by parent company Pearson.

However, revenue at FT Publishing, the division that owns the Financial Times, fell 14% year on year over the same period.

In a statement, Pearson said that although the Financial Times continued to “face a weak market for financial and corporate advertising in the third quarter, it is benefiting from its long-term strategy of earning premium revenues from users for valued content in print and online”.

FT.com has an audience of 1.6 million registered users and a paying base of more than 121,000 subscribers, up 22% year on year.

At The Economist Group, advertising remains weak but subscription and content revenues continue to grow, said Pearson.

Across the whole of Pearson, sales were up by 20% in headline terms (up 2% at constant exchange rates) and operating profit by 19% (up 3% at CER).

Marjorie Scardino, chief executive, said: “We began 2009 in a cautious mood, wary of the impact of the global economic crisis on our company. We have now seen enough of it to say that, though no part of Pearson has been untouched, the company as a whole has proved its strength.

“We have steadfastly pursued a strategy based on quality content, digital innovation, new markets and efficiency gains. As we look towards 2010, we intend to be even more aggressive in these areas – especially new services and fast-growing markets.”