Profits boom at the Financial Times

Financial Times parent company Pearson has announced half-year turnover up six per cent to £1.7 billion and operating profit up 48 per cent to £91 million.

In the FT Publishing division – which includes the Financial Times – turnover was up 21 per cent year-on-year to £164 million andd adjusted operating profit up 73 per cent to £23 million.

The FT Group also includes specialist magazines: Investors Chronicle, The Banker, Money Management and Financial Advisor.

Chief executive Marjorie Scardino said: “‘Our half-year results are always just a hint of our potential for the year, but

certainly a strong hint this year.

“The Financial Times Group is showing the value of its unique strategy; Penguin’s publishing and profit are both solid and

promising, as is its approach to change in publishing; and in Education we continue to set the pace as we use technology to personalise learning.

“Our investments in content, technology, international expansion and efficiency

have put us in a position to lead, and we’re leading.”

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