The Week: City news - FT Publishing's profits slip

Profits at FT Publishing, the newspaper and magazine division of Pearson, fell by 40 per cent during the first half of the year.

Adjusted operating profit at the publisher, which owns the Financial Times, was £14 million. Sales fell from £188 million to £176 million as Pearson said that it is diversifying its publishing revenue to reduce its reliance on advertising.