Financial Times: 13% increase in advertising revenue
Media Guardian reports that the Financial Times has seen a 13% increase in advertising revenue; the paper's circulation is also up by 4%. Pearson, owner of the FT, asserts that "at least 80%" of these advertising gains are being converted into profit. The FT has truly come out of a rut; in 2005 it reported a 2 million pound sterling profit. The paper had not been profitable since 2002, and in fact lost 32 million pounds sterling in 2003.
Pearson chairman Glen Moreno made the following statement: "We are encouraged by our sustained momentum in the early part of 2006, and we are in good shape to deliver positive results for customers and shareholders year after year."
Source: Media Guardian
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