Condé Nast’s 2009 pre-tax profits amounted to £5.64m, compared with £20.14m in 2008.
The luxury publisher, which produces magazines Glamour, GQ and Tatler in addition to Vogue, generated revenues of £106.8m in 2009, as against £125.3m in 2008.
Condé Nast’s operating profit also fell from £18.9m in 2008, to £5.5m last year.
The profit that the publisher retained for the financial year was £3.2m, compared with £14.2m in 2008.
The Condé Nast directors' report acknowledged that in the current publishing climate, the company faced a number of risks and uncertainties, primarily "competition from other media impacting circulation and advertising revenues."
In August, Nicholas Coleridge, managing director of Condé Nast, showed a "strong story" for the publisher. Its total average circulation per issue was 1,539,661, up 0.8% period on period and up 2.8% year on year.
Coleridge added: "As the market shows clear signs of a recovery, our glossy titles and cross-platform innovations position us perfectly for continued growth."
Condé Nast rival the National Magazine Company, publisher of Harper's Bazaar and Cosmopolitan magazines, returned to profit in 2009, despite revenue dropping 13.8% from the previous year, according to its latest financial results.
A company spokeswoman said: "Condé Nast successfully launched two new magazines last year – Wired and Love – bringing with them start-up costs. In light of this, and the economic climate we were operating in, it was a positive performance."
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