FT Publishing has reported a 14-percent revenue increase year-on-year in the first nine months of 2008. Profits are expected to grow even if ad revenues stay stagnant, Press Gazette reported.

According to a trading update by parent company Pearson, the publisher still performed well, with ad revenues up one percent on 2007.

“Operating profits continue to show good growth, as expected, and for the full year we expect FT Publishing to increase profits,” according to the company.

Pearson revenues in total in the nine months ending September were up eight percent. Operating profit rose by 11 percent year-on-year, according to Press Gazette. “The company's 'strong performance' continued despite the global economic crisis,” Chief executive Marjorie Scardino said.

“We're naturally cautious about the global economic conditions, but we have good trading momentum, innovative products, resilient businesses and a strong balance sheet, even through these turbulent times,” Scardino added.

In September, circulation of the FT dropped 2.7 percent year-on-year to 429,381, according to ABC.