Newspaper publisher Trinity Mirror has reported an increase in profits for the first half of 2013 after cutting costs by £28.5m.
Revenues at the national and regional publishing group fell from £362.8m in the same period in 2012 to £332 this year.
But a £28.5m reduction on publishing and printing costs saw pre tax profits rose slightly from 48.1m in 2012 to 49.3m.
Much of the cost reduction came as a result of a fall in the price of newsprint together with around £5.8m in reduced labour costs.
The profits were also boosted by £2.7m arising from the group’s 20pc investment in regional publisher Local World, and a further £0.7m from its investment in the PA Group.
Although circulation fell for all Trinity’s regional titles, the group said the decline was “ahead of the market” compared to the rest of the industry.
The report said: “Although the market remains difficult for our regional newspaper titles we have seen circulation volume trends ahead of the market for some of our regional titles.
“In particular, four of our daily titles, the Liverpool Echo, the Daily Post (North Wales), the Huddersfield Examiner and the South Wales Echo achieved declines of around 7% against a daily regional market that is forecast to be down circa 10%
In his report, chief executive Simon Fox said the group had made “significant progress” in terms of harnessing the strength of its journalists and audience.
He highlighted greater content sharing between national and regional brands, singling out the April Jones story as an example.
“Our reporting teams worked together to enhance our coverage of the trial of April Jones’s killer and the aftermath of a road rampage in Cardiff, and we have launched Trinity Mirror Wire, which gives all of our newsrooms access to the best live news stories and pictures from across the Group on a daily basis,” he said.
Added Simon: “I am pleased with the progress we have made in the first half. The Group is producing some outstanding journalism and in a challenging market is outperforming its peers on a number of measures in both print and online.
“Whilst still at an early stage, our transformation plan has got off to an encouraging start and this provides me with confidence in the performance for the year. ”