Pearson, the parent company of the Financial Times, reported a 26 percent increase in earnings during the first six months of the year, boosted by a strong performance at the business newspaper, reports Paul McNally.
McNally writes, “Advertising revenues at the FT rose two per cent in the first half of 2008, buoyed by growth in consumer goods and luxury products.
“Pearson said it was difficult to predict how this would change as the economic downturn took hold, but added: ‘We continue to expect to increase profit at FT Publishing even without any growth in advertising revenue.’
“Subscriber numbers for FT.com remained stable around the 100,000 mark.
“Pearson said all of its businesses were on track. Overall, the company posted a 14 per cent rise in revenue to £1.97bn, with operating profit up 38 per cent to £124m.”
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