Pearson reported full-year 2012 results in Monday morning in London, with Penguin’s adjusted operating profit falling by £13 million (12 percent on an actual basis, and 14 percent on a comparative underlying basis) to £98 million for the year. Actual operating profit was £32 million lower, however, due to “costs associated with the formation of Penguin Random House.” The company has included “a provision for the settlement of litigation” over agency ebook pricing within that £32 million charge, without breaking it out further, though Penguin ceo John Makinson told us “a fairly substantial amount” is set aside for settlement costs. […]
