Pearson provided a third-quarter trading statement that, per the British tradition, is scant on data. Overall sales for the fiscal year so far are up by 6 percent and operating profit increased by 13 percent on the basis of “strong competitive performances in generally weak market conditions, benefiting from premium content and services, digital innovation and presence in developing economies.” At Penguin “sales were level with 2010” which is probably comparable to where they were when they reported more extensive results for the first half of the fiscal year. (Then, “underlying” sales were flat, and margins were up.) The publisher […]
