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Article: Penguin Group Worldwide Reports Record Sales and Operating Profits in 2003; - Underlying Profit Up 2 Percent; Underlying Revenue Up 2 Percent Versus a Year Ago -.
- Article from:
- PR Newswire
- Article date:
- March 1, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, March 1 /PRNewswire/ -- Penguin Group worldwide today reported its operating results for the year ending December 31, 2003, with underlying operating profits up 2% and underlying revenues up 2% over the previous year. Penguin Group is part of Pearson (NYSE: PSO; FTSE: PSON), the international media company.
This overall profit increase was once again driven by strong frontlist performance worldwide, improved operating efficiencies and increased investment in new authors, new books and new publishing programs.
John Makinson, Chairman and CEO of Penguin Group, stated, "The Penguin Group achieved record sales and profits once again in 2003. ...