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UK publisher Pearson said on Monday it expects a modest increase in 2004 profits despite challenging markets, and again ruled out selling the Financial Times, its loss-making flagship newspaper.
Pearson, which gets most of its profits from textbook publishing and also owns Penguin books, said it was too soon to call a recovery in the beleaguered business advertising market that has pushed the FT into the red.

Copyright Reuters, 2004

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