Pearson eyes digital gains

Penguin books publisher Pearson is seeking growth through digital channels to sustain sales momentum.

The company, which also publishes the Financial Times newspaper, increased profit by 9% to £549 million in 2007.

Digital services accounted for 63% of FT's revenue, compared with 28% in 2000.

It continues to make acquisitions to build its digital portfolio including Money-Media, an online news service for fund managers; and recruitment website Exec-Appointments.

Chief executive Marjorie Scardino said: 'We continue to reshape Pearson into a more digital, more international and more efficient company, and those changes make us confident that 2008 will be another good year.'

Profit at the education arm grew by 9% to £404 million, while Penguin lifted 20% to £74 million and FT Group showed growth of 30% to £153 million.

Pearson has benefited from a host of bestselling books in the US, including Elizabeth Gilbert's Eat, Pray, Love selling 4.4 million copies to date and Khaled Hosseini's A Thousand Splendid Suns shipping 2.2 million.

Shares in the group slipped 4% to 640.5p in early trading on Monday.

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