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Article: Penguin Group Reports 2004 First Half Operating Results.
- Article from:
- PR Newswire
- Article date:
- July 26, 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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The Penguin Group, part of Pearson (FTSE: PSON; NYSE: PSO), the international media company, today reported its operating results for the first half of 2004.
Penguin Group Overview
Penguin Group's sales for the first half of this year were level with last year but profits were down. Penguin generates the majority of its revenues in dollars but reports its results in sterling. The weakness of the dollar is the principal reason for the decline in reported profits at the half-year stage. The success of our publishing program, particularly in the U.S., mitigated the effect of increased investment in new channel initiatives and start up problems at a new ...