Pearson delivered the strong results for 2010 that they have been predicting, as Penguin “achieved record sales and profits in a challenging and rapidly-changing industry environment.” The trade publishing division had sales of 1.053 billion pounds (up 5 percent from a year ago, and 2 percent on a constant-exchange-basis) and profits grew even more, at 106 million pounds up 26 percent from a year ago. And those margins “were struck after making additional provisions for a number of credit exposures in the book retailing sector, including in relation to Borders in the US.” eBook sales were 6 percent of Penguin’s […]
