FT’s Parent Reports Profit Increase

Pearson Plc, the parent company of The Financial Times, reported a 79 percent increase in operating profits in the first half of 2010 amid a rebound in advertising.

Mark Sweney of The Guardian writes, “FT Group reported an underlying revenue rise of 7% to £192m and adjusted operating profits more than doubled from £14m to £30m in the first six months of the year.

“At FT Group, digital readership grew 27% year on year in the first six months to 149,000 and registered users of FT.com climbed 77% to 2.5m. The company has had almost 250,000 downloads of its iPad application.

“In a call with journalists Scardino added that the average iPad user session time is running at an impressive 25 minutes.

“The company said that despite advertising revenues returning to growth after a weak 2009, visibility this year ‘remains poor and the outlook remains uncertain.’”

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