Profits Drop For HarperCollins UK

HarperCollins UK has seen a 66% drop in profits for the year ending 30th June 2013, according to results filed with Companies House. Pre-tax profits at the publisher dropped from £8.3m in 2012 to £2.8m in 2013, a decline of 66%. Profit after tax stood at £1.07m, falling 80% from £5.3m. HarperCollins has attributed the decline in profits to costs incurred by a change in its distribution system.