‘Financial Times’ Performed Above Expectations in ’09, Parent Says

By: E&P Staff

Financial Times Group, the unit that includes the business daily and its paid online content, ended 2009 “ahead of our expectations,” parent company Pearson said Tuesday.

In a guidance statement ahead of its report on annual results March 1, Pearson said it expects to report overall company earnings grew 10% over 2008.

Pearson did not specify any figures for the Financial Times unit, but said, “In FT Publishing, our subscription-based revenues remained resilient and the tough market conditions for advertising revenues began to show some signs of easing in the fourth quarter.”

Like The Washington Post Co., Pearson has a large educational-materials publishing unit. It also publishes the Harlequin line of romance novels. The company said it benefited in 2009 from “strong growth in U.S. higher education; good profit improvement in U.S. school testing and international education; and the resilience of professional testing and our subscription-based businesses in the FT Group.”

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