British media group Pearson, the publisher of the Financial Times newspaper and Penguin books, said today that first-half net profits more than tripled on soaring education sales, and lifted its guidance.
Earnings after tax rocketed to £92m sterling in the six months to the end of June, compared with £28m the same time last year, the group said in a results statement.
Sales jumped 9% to £2.342 billion, added Pearson, which generates about 60% of revenues and earnings from its education division.
'The 2010 finish line isn't yet in sight, but this is as good a start to our year as I've seen,' CEO Marjorie Scardino sad in the company's earnings release.
Pearson said it now expects adjusted earnings of approximately 70 pence a share for the current financial year, up from 65.4 pence a year earlier.
However, the group also cautioned that market conditions remained uncertain, with slowing growth expected in the second half of 2010.
