In reporting its last results as an independent publisher Penguin Group posted a 16% gain in sales, to 513 million pounds, and a 27% rise in adjusted operating profit to 28 million pounds. Favorable exchange rates helped the increase, but even without the currency bump sales were up 6% and profits 14%. John Makinson chairman of Penguin Random House and former chairman of Penguin Group, said all operating units did well in the first six months, although he acknowledged that the first half of 2012 had a much weaker publishing schedule than the most recent period. Still, Makinson said while the strong results were a bit bittersweet given the merger with Random House, everyone at Penguin was “very happy” to conclude Penguin’s run as an independent publisher with “excellent results.”
