Pearson reports 12% increase in its first quarter sales

Pearson-GroupPearson Group, a British media group, has reported an increase of 12% in its first quarter sales, beating the market expectations. Pearson said that the revenue growth in the first quarter ended March was mainly attributable to the continuing growth in its US education business.

Pearson also said that it expects an increased underlying profit for the full year 2010.

Pearson, which owns Penguin Books and Financial Times, said that its total revenue was reported of £1.08 billion in the first three months of the year on a constant currencies basis, increasing by 12% comparing to the same period last year.

Pearson reported in its quarterly report that the FT Publishing division of the company posted an excellent first quarter. FT Publishing was reported benefited from strong demand for subscriptions to the publication, both in print and online.

The advertising revenues of the firm were reported up in the first quarter comparing to the previous corresponding period.

Pearson said that it remains cautious about the economic outlook for the full year. But on the same time, Pearson also said that it is confident enough to post a growth in the full year.

"We are confident that we can build on our consistent record of profit growth this year," said Marjorie Scardino, chief executive of Pearson.