The group said that for the full year, it remains on course to achieve strong underlying growth on its key financial measures: earnings, cash generation and return on invested capital.
Marjorie Scardino, chief executive, said: “We still have a lot of trading ahead of us, but every part of the company is doing well. We’re benefiting from rapid take-up of our learning technologies; sustained increases in our audience and advertising at the FT; and best selling publishing combined with operating efficiency at Penguin. This increases our confidence that 2007 will be another year of record profits for Pearson.”
FT Publishing sales were up 8% overall, with increasing content revenues as both the Financial Times and FT.com have continued to build their audiences through the recent volatility in global financial markets, said Pearson.
Its advertising revenues have remained resilient through this volatility with FT Publishing advertising revenues up 9% in the first nine months (up from 7% growth in the first six months of the year).
Penguin sales were up 2% with a strong publishing performance from both new and established authors, with the group adding that the full year it continues to expect Penguin to improve margins further.
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