Categories: OLD Media Moves

FT's parent reports profit increase

Pearson Plc, the parent company of The Financial Times, reported a 79 percent increase in operating profits in the first half of 2010 amid a rebound in advertising.

Mark Sweney of The Guardian writes, “FT Group reported an underlying revenue rise of 7% to £192m and adjusted operating profits more than doubled from £14m to £30m in the first six months of the year.

“At FT Group, digital readership grew 27% year on year in the first six months to 149,000 and registered users of FT.com climbed 77% to 2.5m. The company has had almost 250,000 downloads of its iPad application.

“In a call with journalists Scardino added that the average iPad user session time is running at an impressive 25 minutes.

“The company said that despite advertising revenues returning to growth after a weak 2009, visibility this year ‘remains poor and the outlook remains uncertain.'”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.