The news comes days after the ABC published figures for regional newspapers showing industry-wide falls in circulation, including a 1.7% decline for Archant's flagship title Eastern Daily Press, to 67,441.
Richard Jewson, Archant chairman, blamed the fall in profits on weaker economic growth and retail spending, which lead to a slowdown in recruitment and motor advertising. He also said that a 6% hike in newsprint prices contributed to the decline.
A bright spot was the performance of magazines and contract publishing, with profits up 49.9% to £5m, the privately owned company said today. Titles it publishes include Canal Boat, Yorkshire Life and a number of magazines for the British Association for Shooting and Conservation.
Jewson said: "Despite the difficult trading conditions, and with change occurring within the regional press industry, there are opportunities for those who, like Archant, are in a position to pursue them."
In February, Philip Graf, former chief executive of Trinity Mirror, joined the Archant board as a non-executive director.
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