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Financial Times publisher posts higher sales, profit

Pearson PLC, publisher of the Financial Times newspaper, said yesterday its operating profit in the first nine months of the year rose 26 per cent after the company boosted sales at all of its businesses. Total sales for the period rose 11 per cent, while sales at its educational business, which accounts for around 65 per cent of total revenue, grew 6 per cent. "We are on track to produce Pearson's highest profits ever this year," chief executive officer Marjorie Scardino said. Advertising revenue at the Financial Times grew 10 per cent in the first nine months, Pearson said, while IDC, the financial data company in which it is a majority holder, had revenue growth of 11 per cent over the same period. PSON (London) fell 12 pence to £7.69 ($16.45). AP

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