Publishing group Pearson has reported strong sales and operating profit for the first nine months of the year, due to increased demand for e-books and Financial Times publications.
As a result, the company upgraded its full-year profit forecast, with earnings per share estimated to rise by 10% compared with 2009.
Sales of e-books rose threefold, while those at the FT Group were up by 11%.
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But the publisher cautioned that the economic outlook remained uncertain.
“Our businesses continue to generate significant growth in digital and in developing markets, and to benefit from further efficiency gains,” the group said.
Sales at Penguin rose by 5%, thanks to success in the e-book market and also to bestselling book The Fry Chronicles by Stephen Fry.
Pearson said it had a “strong line up” of books in the final three months of the year, including titles from Tom Clancy, Michael McIntyre and Jamie Oliver.
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This post was submitted by Chinmaya Nayak.
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