FT’s parent sees shares fall after earnings warning
by Chris Roush
Pearson Plc, the parent company of the Financial Times, saw its shares fall on Monday after it warned that this year’s earnings won’t match the the previous year’s earnings.
Mark Sweney of The Guardian in London writes, “FT Group, home to the Financial Times, expects to report ‘good revenue growth’ for 2012.
“Pearson said growth at the division, which includes a 50% share in the publisher of the Economist, came despite a deterioration in advertising sales in the fourth quarter.
“FT Group digital and subscription-based revenues continued to grow in 2012, although profits will be ‘significantly’ lower year on year because of ‘further actions to accelerate the shift from print to digital.’
“The division’s profits will also be hit by the loss of income from FTSE International after Pearson sold its 50% interest to the London Stock Exchange for £450m in December 2011.”
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