In a trading update released today, Pearson said that it is trading in line with expectations for 2007 and expects to achieve good underlying earnings growth, cash conversion ahead of its 80% threshold, and a further increase in return on invested capital.
It also said that Penguin’s margins are predicted to improve further, following investment in publishing and efficiency programmes.
Marjorie Scardino, chief executive, said: “We’ve achieved strong growth with a consistent strategy: leading content, services and technology to make it more valuable, international expansion and ongoing efficiency measures. Those advantages, and our solid start to the year, make us confident that 2007 will be another good year for Pearson.”
Pearson’s full year results showed that the FT and its website recorded a £9 million increase in profits last year to £11 million (see FT Records £9 Million Increase In Profits).
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