Pre-tax profits dropped year-on-year from £124.2m to £72.7m in the 53 weeks ending January 3, on an adjusted basis. Revenue in the same period fell from £871.1 to £763.3m.
The year-on-year comparisons were impacted as the 2008 figures are made up of a financial year of 52 weeks.
Sly Bailey, chief executive of the group, said: "While the severity of the economic downturn experienced during 2009 impacted Group revenue, the resilience of our brands and commitment of our staff ensured that we delivered profit ahead of expectations."
The group has scaled back its operations in the past year and reduced its headcount by 20%, which equates to 1,700 people. Further costs have been saved by a group-wide recruitment freeze.
Trinity's regional division, made up of over 120 titles, suffered a revenue fall from £396m to £302.9m while operating profits dropped £68.2m to £35.9m.
The division revealed it closed or sold off 30 titles that had become unprofitable. Cost reduction, it said, would be helped by a flatter management structure and reduced headcount.
Digital revenue across its regional titles, which include the Birmingham Post and the Liverpool Echo, fell by 18.8% on the year after it was hit by the fragile property market.
However the group said, excluding recruitment and property sectors, digital revenue grew by 38% on the year. Across its national stable – which includes The Daily Mirror, The Sunday Mirror, The People and The Daily Record – revenue fell by 3.2% from £475.7m to £460.4m. Operating profit dipped from £88.9m to £83.6m in the period.
Looking ahead, Bailey said: "During 2010, we will maintain a focus on costs whilst reaping the benefits of an improvement in the rate of decline in advertising revenues. Whilst the Board remains cautious about the economic outlook, it anticipates a satisfactory performance for 2010."
The division revamped its national Sunday title, The People, with a more contemporary look during the period. Like the national newspaper sector as a whole, Trinity’s titles suffered year-on-year circulation declines. However, the group pointed to its policy of not discounting cover prices to prompt short-term circulation hikes.
Last year the group upped the cover-price of the Daily Mirror from 40p to 45p and the Sunday Mirror increased from 95p to £1.
Digital revenue across the national titles fell by 14.3% on the year, after it was hit by a decline in bingo revenues.
Trinity Mirror recently acquired the Guardian Media Group’s (GMG's) regional division, including The Manchester Evening News.
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