FT Publisher Posts Record Results

28 February 2007

LONDON: Pearson, publisher of UK business daily the Financial Times, has reported record operating profits and earnings for 2006. The company, which also owns Penguin Books and publishes online teaching materials, posted a pre-tax profits rise of 19% to £502 million ($986m; €746.8m).

The figure was adjusted for the disposal in 2005 of Pearson's stake in a Spanish newspaper group. Statutory pre-tax profits rose 4% to £466m on a 9% rise in turnover to £4.14 billion.

Comments ceo Dame Marjorie Scardino: "We have built market-leading businesses and invested consistently in their content, technology and international expansion. That strategy is paying off with sustained growth in sales, margins, earnings and returns, and we expect 2007 to be another good year."

Data sourced from Financial Times online; additional content by WARC staff