Shares in publishing group Pearson PLC (LSE: PSON) jumped 10% in early deals after the company reported better than expected results for the first half of 2009.
The owner of the Financial Times and Penguin Books reported an impressive 25% jump in adjusted operating profit and 41% surge in adjusted earnings per share.
Marjorie Scardino, Chief Executive of Pearson noted that six years of rationalising and investing in the business was now beginning to pay off:
"The transformation we've been pursuing for a decade - from 'publishing' company to content, technology and services company - is paying off. Over the past six years, Pearson has delivered substantial growth; this year is about proving our resilience and competitive edge. So far, we've passed the test. Market conditions are tough and may stay that way; but we are confident that we will perform well this year and next."
Looking ahead, the FTSE 100 constituent noted that its strong position in growing markets gave it confidence for 2009 “and beyond”.
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