Regional newspaper publisher Archant has seen profits in its newspaper and printing operations fall by nearly 32pc to £16.2m.

The new figures, which were announced today, also showed that turnover from ongoing operations fell from £191.6m for 2007 to £174m for the year ending 31 December 2008.

Operating costs were reduced by 6.4pc while magazine and contract publishing dropped 17.9pc to £5.8m.

In a preliminary statement to shareholders, chairman Richard Jewson identified significant full year declines in recruitment and property advertising revenues in the newspaper business and in property and display advertising in the ‘Life’ magazines.

This was offset by progress in the development of online activities and revenue as contributors to a decrease in total operating profits to from £30.5m in 2007 to £22.2m.

There was some good news however as online revenues increase by 51.1pc to £3.8m, driven by the further development of jobs24.co.uk and on-line display advertising.

Archant publishes four daily and 60 weekly newspapers, associated websites and consumer and lifestyle magazines, employing around 2,400 people across England.

This latest development comes swiftly after Archant Norfolk announced it was looking to shed around 50 jobs from the Norwich Evening News, Eastern Daily Press and associated weeklies.

Mr Jewson said: “We expect the difficult trading conditions, which have deteriorated through the last few months, to continue for 2009 and beyond.

“It is impossible to know the timing and extent of any recovery and difficult to foresee the shape and scale of our industry in the years ahead.”