FT Group earnings up 10%
LONDON - FT Group's revenue increased 10% year on year in the first nine months of 2009, parent Pearson said today (20 October).
FT: group revenue increased 10% in the first nine months of the year
Unveiling an interim management statement, Pearson did not disclose FT Group's absolute revenue or profit. However, it said FT Group's "resilient subscription revenue is helping us to weather the severe advertising downturn".
Within FT Group, Pearson said the Financial Times faced "a weak market for financial and corporate advertising in the third quarter". However, it claimed it is benefiting from a strategy of earning, generating "premium" revenue for its various print and online services.
Pearson said FT.com had 1.6 million registered users and a paying base of more than 121,000 subscribers at the end of September, up 22% on the same period last year.
Marjorie Scardino, Pearson chief executive, said that, in 2010, the company intends to be "more aggressive" in digital and move into emerging markets.
She added: "We began 2009 in a cautious mood, wary of the impact of the global economic crisis on our company.
"We have now seen enough of it to say that, although no part of Pearson has been untouched, the company as a whole has proved its strength."
Pearson's total revenues was up 20% year on year. Again, however, the company did not disclose its absolute revenue or profit figures.
This article was first published on mediaweek.co.uk
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