FT publisher confident of record year

Financial Times publisher Pearson today said a “strong” first half had boosted confidence in its hopes for the full financial year.

The group, which also owns the Penguin publishing business, reported interim underlying pre-tax profits up 56% to £84m (€106m).

It said sales at the FT Group rose 11%, while adjusted earnings for the division increased from £68m (€86m) to £84m (€106m) thanks to an increased focus on subscription and digital sales.

Marjorie Scardino, Pearson chief executive, said: “Our momentum is strong, even in these tough economic conditions.”

She added the group was confident that 2008 “will be another record year”.