Profits at publisher Trinity Mirror fell in 2015 as print revenue continued to decline.
Trinity Mirror, which only just today launched a print title called The New Day, saw pre-tax profit fall from £81.6m, the previous year, to £67.2m.
Underlying revenue fell by 7.8 per cent at the newspaper publisher, though underlying publishing digital revenue grew by 21.9 per cent while underlying publishing print revenue fell by 9.5 per cent.
Simon Fox, chief executive of Trinity Mirror, said: “I am pleased with the profit growth we delivered in 2015 despite the challenging print environment.
“Our significant efforts on improving our balance sheet over the past three years enabled the transformational acquisition of Local World. We are delighted to welcome the Local World team to Trinity Mirror and are making good progress with the integration of the two companies and finding opportunities to benefit from best practice.
“Whilst we expect print markets to remain difficult in 2016, the continued implementation of our strategy gives the board confidence in our performance for the year ahead.
“We have today launched, The New Day. It is an exciting and innovative initiative which we believe fills a gap in the market for a daily newspaper designed to co-exist in a digital age.”
Last year Trinity Mirror completed the acquistion of nespaper publisher Local World.