The newspaper division up 28% - great result.
We've written here about the FT and we have worried about its profitable future. This performance albeit somewhat early must be very validating for Pearson. Much work has been done to improve the paper (crisp, clear, confident) and of course online. Seems that readers and advertisers alike have taken to the improvements.
This strong performance comes off the back of Times editor Robert Thompson suggesting that The Times would soon be profitable!
Two things strike me.
1. The challenge of digital has acted as wake up call and forced newspaper publishers to think hard about their print product.
2. Digital is indeed an opportunity for profitable growth (rather than the end of newspapers!)
On final note if, as seems likely, the Bancroft family decide to reject Murdoch's offer for the WSJ the FT can sigh a huge sigh of relief.