British media group Pearson has reported a small profit for the six months to June compared with a small loss the year before.
It added that it remained on track for a strong rebound in profitability in the second half.
Pearson, publisher of Penguin books and the Financial Times and Les Echos newspapers, said pre-tax profit in the first half was £26m sterling, against a £28m loss a year earlier.
The return to profitability came despite a drop in revenues to £1,813m from £1,876m, which was almost entirely the result of a sharp fall in newspaper advertising revenues.
Pearson said the improvement in its performance was driven by a sharp cut in interest charges and reductions in losses at its Internet ventures.
But it warned that it saw no sign of an advertising recovery at the Financial Times.
