FT Group Reports 11% YoY Revenue Rise

The FT Group’s parent company, Pearson, reported an 11% year on year rise in total revenues for the first nine months of 2008 in a trading update today.

The group also enjoyed a 1% increase in advertising revenue over the same period, rising above the general downward trend that the newspaper sector has seen in its recent financial results.

The rise in circulation and ad revenues was matched by an increase in interactive data revenue, up 8% over the same period in 2007 due to continued growth of new businesses, according to reports.

FT Publishing, which houses the Financial Times and the group’s trade titles, experience a revenue rise of around 14% as part of the group-wide increases.

Pearson said: “The Financial Times and Mergermarket are continuing to increase their content revenues and build their audiences through the volatility in global financial markets.

“Mergermarket is achieving good sales growth and strong renewal rates. Operating profits continue to show good growth, as expected, and for the full year we expect FT Publishing to increase profits even if there is no growth in advertising revenues.”

Overall, Pearson reported an 8% year on year revenue increase and an 11% rise in operating profits in the first nine months of 2008.

As a result, Pearson’s share prices increased 3.4% on last night’s close to 578.50p at around 9.30am this morning.

Financial Times: 0207 873 3000 www.ft.com