FT online investment sees publisher profits fall

Pearson, the publisher of the Financial Times , saw its share price fall six per cent - or 94p - during early trading, after end-of-year results for fiscal 2000 showed a drop of 17 per cent to £333m compared to £402 for 1999.

Pearson blames the dip in profits on the £196m it invested in internet ventures, including its education business and the FT Group.

However, Pearson insists the investment has all been worthwhile as enterprises such as FT.com are now contributing to the business and are expected to break even by next year.