Trinity Mirror has announced flat pre-tax profits for 2007, down to £191m from £192m the year before.

It is giving a cautious outlook for the current year but still expects a “satisfactory” performance.

Group operating profits from the retained businesses increased by £6.4m to £186.1m.

In the regional publishing arm of the business, total operating profit fell 4.6 per cent to £109m in 2007 from £114m the year before.

Within those figures, digital publishing operating profit was up almost 60 per cent to £9.8m, with digital revenue up by a third to £30.4m.

A report to the City today by chief executive Sly Bailey said: “Throughout 2007, our staff across all areas of the business have faced the challenges in our markets with determination, enthusiasm and tenacity. On behalf of the board, we thank them for their commitment and hard work.

“Although we are cautious about trading in 2008, the board anticipates a satisfactory performance for the year given the continued implementation of the group’s strategy, ongoing focus on cost control and the group’s resilient cash flows.”

The company made progress in developing its multi-platform media business, with the launch and acquisition of new products and services, implementation of new technology platforms and new full colour presses.

The report continued: “Performance from our regional digital activities was particularly strong with revenues up 33.3 per cent and audience figures up 27.8 per cent on 2006.

“This reflects the successful launch of a number of companion websites to our print titles, the launch of micro sites serving local communities and sites serving key local advertising markets in recruitment, property and motors plus growth coming from our acquired digital businesses.

“Going forward our regionals division will focus on maximising the performance of our core print portfolio while achieving rapid progress in building the business across attractive media platforms.”

The company also made better savings than were predicted, with cost savings of £13m across the group exceeding its £10m target. Trinity is on track to deliver the targeted £20m annual cost savings by the end of this year.

And while during the year, there were circulation volume declines of 6.0 per cent for evening titles, 6.2 per cent for morning titles, 6.7 per cent for weekly titles and 4.2 per cent for Sunday titles, the regionals division continued to drive circulation revenue through increased cover prices. Overall circulation revenue from retained businesses increased by £0.2m from £80.3m to £80.5m.

The sale of various parts of the business brought in £263m.