FT ad revenues, profits up
By Leah McBride Mensching, Monday 22 October 2007 at 19:32 :: Newspaper Data :: #735 :: rss
The Financial Times saw a nine percent bump in ad revenues for the first nine months of the year, while its owner, Pearson Plc, has reported a 20 percent jump in operating profits.
Pearson said it expects to “achieve a strong underlying growth on its key financial measures for the full year,” and currently all of its businesses are trading either in line or ahead of forecasts, Brand Republic reported Monday.
From the Financial Times to FT.com, the group's FT Publishing business recorded an eight percent increase in sales, and expects growth in the double-digit range for the year in that division. In the third quarter alone, operating profits grew 17 percent and sales were up four percent.
“We're benefiting from rapid take-up of our learning technologies, sustained increases in our audience and advertising at the FT, and bestselling publishing combined with operating efficiency at Penguin,” Marjorie Scardino, chief executive of Pearson, told Brand Republic. “This increases our confidence that 2007 will be another year of record profits for 2007.”
In the previous quarter, Pearson began making some of its online content freely available, ending its paid-for content strategy across FT.com.
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