In a preliminary statement to its shareholders Richard Jewson, Archant chairman, said turnover at the regional group, which publishes the Eastern Daily Press, was £142m, down 19% from £175m in 2008.
Though operating profit was £15m, down 32% from £22m in 2008, Jewson said operating profit doubled in the second half year compared with the first half, reflecting Archant's reduced cost base and some signs of improvement in trading conditions.
Operating profit in the six months to the end of December was up 11% against the second half of 2008. Over 2009 total operating costs were reduced by £26m, a saving of 17% year on year.
Jewson said Archant completed the refinancing of its bank facilities in December 2009 and the board is confident this provides sufficient working capital and headroom to pursue its current strategies.
Archant said online revenues increased 25% during 2009. Average monthly unique visitors rose by 37% and total annual page impressions were up by 19%.
Jewson said: "2009 was a most challenging year with significant declines in all advertising categories. The new management team proved well up to the task, taking swift and decisive steps to reduce the cost base and launching a number of new business initiatives."
Archant is a privately held company and its annual general meeting will take place on 20 April. Archant's portfolio includes four daily newspapers, 60 weekly papers, around 80 monthly consumer, contract and regional magazines, and over 180 websites. It employs around 1,850 people.
Elsewhere in the regional press, a spokesman for Johnston Press confirmed that Freddie Johnston, head of the family which launched the group in 1767, is to step down from the board at the Johnston annual general meeting in April.
It will be the first time the board of Johnston Press will not include someone from the family since the company was founded though Freddie's son Michael remains a divisional managing director in Scotland.
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