FT Revenue Decline Hits Pearson Profits

FT Revenue Decline Hits Pearson Profits

In a trading update released this morning Pearson has revealed that advertising revenue across the Financial Times group has been ‘significantly lower’ for the first four months of this year, compared to 2001.

In March, Pearson warned that the ad market would remain flat in 2002 and revealed that profits at Pearson fell by 12% in 2001 from £333 million in 2000 to £294 million.

Pearson chief executive, Marjorie Scardino, said today: “We have made a good start to 2002 and, despite the difficult economic climate, we are confident we can produce good earnings growth this year.”

Shares in Pearson rose following the announcement.

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