The Week: City news - Pearson profits increase

In a trading update, Pearson has reported that FT Publishing posted good sales and profit growth in 2008, despite the slowdown in the ad market in the fourth quarter.

Ahead of announcing its preliminary results for 2008 on 2 March, the owner of the Financial Times said it would report good expansion and continued progress on its financial goals for 2008, despite the worsening economic environment. It added that trading conditions were more difficult in some of its markets in the fourth quarter, but that all of its businesses achieved or exceeded its performance guidance for 2008.