FT set to break even as sales and ad revenues rise

by Joe Lepper, Brand Republic 01-Nov-05, 08:50

LONDON - The Financial Times is expected to break even by the end of the year after a troubled first half of 2005, according to latest figures from parent company Pearson.

A nine-month trading update from Pearson reveals that FT Group sales are up 5% and advertising revenues for the FT are up 6%.

The statement says the newspaper is now "on track to be around break even for the full year", which would mark a major turnaround in fortunes. In July, it emerged that the FT lost around £3m for the first six months of the year.

Elsewhere across Pearson, its educational publishing business is performing well, with education sales up 13%, and Penguin sales are up 2%.

Marjorie Scardino, Pearson chief executive, said: "Penguin and the FT Group are making solid progress while our education business powers ahead. We are concentrating on trading well through our all important fourth quarter and our momentum makes us confident."

The most recent set of ABCs showed a 5.96% rise from 413,882 in August to 438,538 in September. Circulation for the first nine months of the year is down 0.08% on the same period last year.

Meanwhile, the FT has appointed Frances Brindle as EMEA marketing director and promoted FT Funds Business director Adrian Clarke to the role of European publisher.

Brindle, whose previous roles include marketing director at Barclays International Banking as well as at Allied Bakeries, joins in January.

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