Penguin publisher Pearson raises guidance

Penguin books and Financial Times publisher Pearson said it was more optimistic about prospects for the rest of the year today after seeing further strong growth from digital businesses and developing markets.

The group, which is a major supplier of text books in the United States, reported a 6% rise in half-year sales to £2.4bn while underlying profits were 20% higher at £208m in the six months to June 30.