The Press Association today reported an 8pc increase in turnover for 2008 despite a pre-tax loss of £8m.
However, it was obliged to write-off £8.8m of assets associated with its sports business, resulting in a pre-tax loss overall.
The group reported an increase in turnover from £79.1m in 2007 to £85.6m last year.
Commenting on the results, PA Group chairman Tim Bowdler said: “Encouraging progress was made across the group in 2008.
“In a difficult market environment our focus on developing products and services suitable for the current requirements of the marketplace and containing costs has resulted in a resilient underlying performance.
“Although 2009 will be another difficult year, we are trading ahead of the same period last year. I believe we are in good shape to meet the challenges which face us and have confidence that we can emerge as a stronger organisation.”
The group’s chief executive Paul Potts has confirmed his intention to stand down next year, and a process to appoint his successor is now under way.