Archant, publisher of four daily regional newspapers and about 60 weekly titles, said the first half of the year was a "very difficult period of trading for the consumer media industry as a whole".
Total revenue for the six months to June declined £22.8m (24.4%), to £70.8m, while pre-tax profit was £5m, down £8.1m (61.6%) on 2008.
Newspaper and printing turnover was 25.3% lower at £49.1m, with reductions in all major advertising categories. Advertising revenues fell 29.5%. Archant declined to break out the revenue across categories, however.
The company's magazine operations were marginally less affected, with total turnover down 22.2% at £21.7m, while the Archant Specialist division held profits at last year's level. Again, however, Archant declined to break out specific revenues for this division.
In a statement accompanying the results, Archant chairman Richard Jewson said: "Adjusting to this new and different world and restoring levels of profitability will take time."
He added: "Our management has responded strongly in the extraordinary market conditions by focusing on innovative ways of stimulating new and existing revenue streams, reducing operating costs by £14.8m and preserving cash, while seeking new ways to develop our digital businesses."
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