Digital growth has helped Penguin books

DIGITAL ebooks accounted for 12 per cent of revenues at publishing giant Penguin last year after download sales doubled on a year ago, owner Pearson revealed yesterday.

The books business, whose UK division published 78 top-ten best-sellers last year, grew overall profits by 5 per cent to £111 million in 2011, despite the collapse of two major customers, including Borders in the US.

Since the beginning of 2008, digital downloads of apps and ebooks across Penguin have totalled some 50 million.

The digital revolution had a bearing on results from Pearson, which is a major supplier of text books in the US and publishes the Financial Times in the UK.

Sales for 2011 were up 6 per cent based on constant exchange rates at £5.8 billion, while operating profits lifted 12 per cent to £942m.

Chief executive Marjorie Scardino said: “Our strategy and long-term planning for change have helped us to another good year to add to our record of persistent out-performance.”