Shares in Pearson hit an eight-year high yesterday after the publisher of the Financial Times and Penguin books announced a 13 per cent increase in pre-tax profits.

The chief executive, Dame Marjorie Scardino, said Pearson had ruled out the sale of the FT, alongside the possible disposal of its majority stake in Interactive Data, which provides financial market information. Dame Marjorie said a strategic review by Interactive Data's board was continuing and could yet result in a sale, but she added: "The FT is not part of that. It remains an integral part of the group and is a great brand for Pearson."

Strength at Pearson's educational publishing business in North America drove up the group's total sales by 4 per cent to £5.6bn, at constant currencies, while pre-tax profits rose from £585m to £660m.

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