FT publisher overcomes market turbulance

Financial Times publisher Pearson today said advertising revenues had remained “resilient” despite recent stock market turmoil.

The company, which also owns Penguin books, said the flagship title and its FT.com website had attracted more readers through the summer turbulence.

FT Publishing ad revenues grew 9% in the first nine months of the year – an acceleration of the 7% growth seen at the half-year stage – and is on track for double-digit margins in 2007.

Chief executive Marjorie Scardino said: “Our advertising revenues have remained resilient through this volatility.”

Pearson is confident of record profits this year after another strong performance from its education business, which carries out most of its trading in the United States.