Pearson reports 72% rise in profits

Thursday, 1 March 2012 - 9:36am

Pearson has reported a 72% surge in pre-tax profits to £1.15bn for 2011, with ebook sales at Penguin more than doubling and profits at FT Group, home to the Financial Times, up by about a quarter.

Pearson, which beat its own recently increased forecast of 85p earnings per share with an analyst pleasing 86.5p, said that on an adjusted basis total operating profits grew by 10% to £942m.

Total revenues across the group, which includes book publisher Penguin and educational holdings, grew 4% to £5.9bn. Within this total digital revenues grew 18% to £2bn to account for a third of all sales.

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