In the year to 31 December 2008, IPC reported a slight uplift in pre-tax profit, from £76.7m to £78.6m, despite a fall in revenue, to £393.5m, from £404.7m a year earlier.
Lower administration (£47m) and sales costs (£96.7m) contributed in part to the higher profits.
In the accounts, IPC said: "Turnover is lower year on year due to the adverse economic conditions, which have reduced demand for advertising space."
The accounts also reveal that IPC's UK revenue was £323m with £49m coming from European operations.
The magazine ad market has worsened markedly in 2009 but IPC, unlike some its rivals, has not closed any of its major magazines.
Staff costs in 2008 of £97.9m were down from £99.3m a year earlier.
IPC Media declined to comment further.
Magazines
John Reynolds, mediaweek.co.uk, 05 November 2009, 4:26pm
IPC Media pre-tax profits up in 2008
LONDON - IPC Media posted a rise in pre-tax profit in 2008, according to the latest accounts filed at Companies House.
IPC: profits up
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