Publisher Pearson said today that 2006 started well on the back of 13 per cent advertising revenue gains at its Financial Timesbusiness newspaper.
London-based Pearson, the world's largest educational publisher, repeated earlier sales growth forecasts for its education division of between 3 and 5 per cent, and its general interest book publisher Penguin had a growth forecast of about 1 per cent.
Most of the company's sales and profit come in the second half, largely because of how educational materials are purchased in the United States.
The Financial Timesreturned to profitability in 2005 for the first time since 2001, despite the departure of its editor in November and persistent speculation that Pearson might sell it.
With 13 per cent advertising revenue growth and 4 per cent circulation gains so far in 2006, the newspaper is outpacing rivals, which are widely losing advertisers and readers to the Internet.
Pearson also said its school textbook unit is off to a good start and that its testing business has already won some contracts in California and other US states.