Profits up at Pearson

Unveiling a trading statement this morning (15 October), Pearson said sales are up 14% year on year at FT Publishing. The statement added that the FT and Mergermarket are increasing their content revenues - although it did not detail these revenues. Mergermarket, Pearson said, is posting sales growth and strong renewal rates.

For the full year, Pearson said it expects FT Publishing to increase profits "even if there is no growth in advertising revenues".

Group-wide, Pearson said that during the first nine months of 2008, sales were up 8% and pre-tax profits up 11% at constant exchange rates.

"We are trading in line with our expectations and we remain on track to make further progress on our financial goals in 2008," the Pearson statement said.

Marjorie Scardino, Pearson chief executive, said: "Pearson's strong performance continues. We're naturally cautious about the global economic conditions, but we have good trading momentum, innovative products, resilient businesses and a strong balance sheet. With those advantages, we believe we are in good shape to prosper and strengthen our company, even through these turbulent times."

This article was first published on Media Week