FT owner posts strong results

FT owner posts strong results Financial Times owner Pearson has reported an 11% increase in operating profit increased 11 for the nine months to the end of September. The rise has been driven by a double-digit uplift in sales at FT Publishing.

The education and media group registered an 8% sales lift in the period driven by a 14% bump at FT Publishing, which includes the FT and FT.com. Advertising revenues were 1% ahead of 2007.

Marjorie Scardino, chief executive of Pearson, said it was cautious about the global economic outlook despite a continued strong performance. She adds that “good trading momentum, innovative products, resilient businesses and a strong balance sheet” means the company should be in “good shape to prosper and strengthen”.

Pearson’s education business saw sale lift 10% while sales at book publisher Penguin rose 3%. According to latest Audit Bureau of Circulations figures for September, the FT saw a 2.83% month on month rise to 429,381.