Publisher Pearson, which owns the Financial Times, says it expects to meet profits expectations this year despite a sharp fall in advertising revenue at its flagship paper.
The company said its educational publishing division would show revenue gains, with the higher education division climbing by up to 7%.
But revenue at the FT is expected to decline by 12% in the second half, and by 15% in the full year, suggesting that the market for financial service and technology advertising is still weak.
Profits at the FT group are expected to be slightly ahead, however, because of cost cuts.
