Regional publisher Archant has announced a fall in operating profits for 2009 to £15m.

In a statement to shareholders, chairman Richard Jewson said turnover for the group last year fell 19pc to £142m while profits were down 32pc from £22.2m in 2008.

However, operating profit doubled in the second half year, compared to the first half, reflecting a reduced cost base and some signs of improvement in trading conditions.

The statement revealed that the group’s total operating costs fell by £26.1m, a saving of 17.1pc.

Mr 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 now employs 1,850 people across England, mainly in East Anglia, London, and the South-West.

Its portfolio includes four daily newspapers, 60 weekly papers, around 80 monthly consumer, contract and regional magazines and over 180 websites.