The owner of publisher Penguin has posted a 28% surge in annual profits as it hailed the division’s best UK performance in its 75-year history.
Pearson, which also owns the Financial Times Group and a large education division, said sales of books such as Jamie Oliver’s 30 Minute Meals and Stephen Fry’s The Fry Chronicles boosted its 2010 performance.
Pearson reported pre-tax profits of £670 million as group sales jumped 10% to £5.7 billion last year.
But it cautioned a squeeze on Government spending would hit trade in 2011.
As the group revealed its full-year results, chief executive Marjorie Scardino said Pearson was “uncomfortable” having the Libyan Investment Authority, a state-backed wealth fund, as its fourth-biggest shareholder.
Ms Scardino said the company was waiting to learn more about the implications of UK Government plans to freeze assets held in Britain by President Muammar Gaddafi.
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