West Australian Newspapers has recorded a $96.2 million net profit after tax for the 2010 financial year, down slightly from $97.1 million for the previous corresponding period.
The result was on revenue of $409.2 million, which was also down two per cent from 2009.
In the company's annual report chief executive officer Chris Wharton said, "Total revenue for the Group was down 2.2 per cent for the year due to a reduction in advertising volumes."
"The good news is, from a soft GFC impacted start, we saw positive trends throughout the year.
"The reduction in revenue was offset by the effective management of consolidated expenditure, which for the year was also down 2.2 per cent," he said.
The daily metropolitan newspaper continues to be the company's biggest revenue spinner, bringing in $131.8 million in 2010, down from $142.6 million in 2009.
West Australian Newspapers regional publications slightly increased its revenue from $11.3 million in 2009 to $11.8 million in 2010.
The company continued to make a loss on its digital operations, which improved from a $5.1 million loss in 2009 to a $1.8 million loss in 2010.
"Last years results were impacted by a one off restructuring provision, which related largely to a redundancy program," said Mr Wharton.
"If we adjust for the impact of the redundancy program on the 2009 result, this year's NPAT is more or less at parity with the prior year," he said.
WA Newspapers chairman Kerry Stokes said, "I am pleased to report that it (WA Newspapers) is well-placed to capture the benefits of a growing state economy."