Pearson reports 'competitive' year

Pearson reports 'competitive' year

Digital services and expansion into emerging economies are leading Pearson’s economic growth, as the company reports it has performed “competitively” in a year which has seen “significant change” and weak market conditions.

In its January trading statement, Pearson reported digital revenues of £2bn and £600m of revenue from emerging markets for the 2011 year as a whole.

The company said that its Penguin publishing arm performed “strongly” in its key trading season and will report “solid results” in February “despite rapid industry change and tough conditions in the physical book retail market".

Pearson said: “Penguin continues to benefit from its innovation and scale in the fast-growing digital book market.”

The company said it has also grown market share in North American education and digital learning, which has helped it to offset weak market conditions in the school and higher education publishing industries.