Categories: OLD Media Moves

Profits, revenue up at Financial Times

Pearson Plc, the London-based parent of The Financial Times, reported earnings Monday that showed strong results for the business newspaper.

The FT Group within Pearson reported revenue in the first six months of 164 million pounds, up from 135 million pounds in the first six months of 2006. Its profit was 23 million pounds, up from 11 pounds in the same period a year ago.

The company also said thatÂ FT newspaper circulation was up 1 percentÂ to 450,000, with a 12 percentÂ increase in subscriptions.Â In addition,Â FT.com subscribers were up 12 percentÂ to 97,000Â from the same period last year.

The higher profits was partly due to higher prices for all of its editions. The price of the FT roseÂ in EnglandÂ from Â£1 to Â£1.30 Monday-Friday and from Â£1.50 to Â£1.80 for the Weekend FT. In theÂ U.S., the price rose fromÂ $1.50 to $2. In Europe, the price rose fromÂ â‚¬2.60 to â‚¬3.

Advertising revenues at the Financial Times was up 5 percentÂ in the first half “benefiting from its global reach and online presence,” the company said.

Read the entire release here.

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.