The owner of The Daily Telegraph and The Sunday Telegraph recorded an operating profit before exceptional items of £41.4 million for the 53 weeks, compared with a profit of £32 million in the 52 weeks covered in 2008.
This increase of £9.4 million comes despite turnover for the period falling 7.7% to £317 million after falls in ad revenues.
Circulation revenues were reported to be "resilient", although full details of the accounts are not yet available at Companies House.
A TMG statement today said: "Despite the recessionary pressures on revenues - and a steep increase in newsprint prices at the start of 2009 - a tight control on costs, alongside the benefits flowing from the successful integration of the print and on-line businesses begun in 2007, enabled the group to achieve this 29% profit increase."
Profit before tax was £53.1 million, which includes an exceptional profit of £13.2 million and net interest payable of £1.5 million.
This represents a significant turnaround from 2008 when TMG incurred a loss before tax of £15.7 million, which included exceptional restructuring costs of £47.1m and net interest payable of £0.6m.
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