|

Pearson reports increase in sales and operating profits

Pearson reports increase in sales and operating profits

Pearson, owner of the Financial Times, has reported an increase in sales and operating profits for 2008.

The company, which also owns Penguin books, saw its strongest profit growth at the FT Group, up 13%.

Online showed impressive growth for the FT Group last year, with 67% of revenues coming from digital services, up from 28% in 2000, while 25% of revenues were from advertising, down from 52% eight years previously.

Advertising revenues at FT Publishing were down 3% over the year, with a “weak” fourth quarter.

Circulation revenues from the FT increased 16%, due to an 18 month period which saw its cover price rise from £1 to £1.80.

Overall, sales were up 8% at constant exchange rates to £4.81 billion, while adjusted operating profit rose 11% to £762 million.

Media Jobs