FT, Penguin Owner Pearson Reports 79% Surge in Profit

Pearson PLC, the owner of the Financial Times, reported a half-year profit of £178 million, or 79% more than the company’s half-year profit in 2009.

Profit at the FT Group jumped from £14 million to £30 million. Though the company says that advertising revenue is “poor and the outlook remains uncertain,” advertising now accounts for less than half the division’s revenues. The group’s digital subscriptions have increased 27 percent to 149,000 and 250,000 people downloaded the iPad app (a free download, and currently offering free access—but users will soon have to have a subscription to use the app).

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