Sluggish Dollar Affects Penguin Results

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By Carmen Comment

Pearson, parent company of Penguin, has reported its 2007 interim results. Its education unit increased sales by 7% and moved into first-half profit of 5m pounds, while Penguin revenues were up 1% with profits 11% higher. “Our half-year results are always just a hint of our potential for the year, but certainly a strong hint this year,” said chief executive Marjorie Scardino. “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 personalize learning.”