In its latest full-year figures, group turnover for the year ending 3 March 2010 was down to £763.3m from £871.7m in 2008.

Pre-tax profit also dropped sharply, down to £72.7m from £124.2m in the previous year, however, the group reduced its net debt in 2009 by £60.2m to £324m.

Some 1,700 job cuts were made during the downturn, accounting for 20% of the group's total staff, while 30 titles were closed in 2009.

Despite this, the company said it had seen an improvement in advertising revenue trends and it expected this to continue into 2010.

Trinity undertook various cost-cutting measures during 2009 in response to "declining revenues" at the group, which included scrapping its defined benefit pension scheme, changing regional title print runs, closing titles and closing its Liverpool plant. This is estimated to have made savings of around £68m.

The company's Regionals Division fared worst last year, with turnover falling 23.5% to £302.9m, while profits nearly halved, dropping from £68.2m to £35.9m. Low advertising revenue throughout the recession was cited as the primary reason for the fall.

Trinity's Nationals Division, which includes the Daily Mirror and the People, weathered the storm more effectively. Turnover fell by only 3.2% to £475.7m and profits were down 6% to £83.6m.

The group announced that it plans to reduce its cost base by at least £20m during 2010, but chief executive Sly Bailey insisted this would not include any closures or job cuts.

She said: "The major activity [in terms of cost cutting] was at the begining of the year [2009 when the ad slump hit hardest] and while I won't say we won't close anything in the future ever, we have no plans. There is [also] no redundancy programme planned."

Bailey cited the "resilience of our brands and commitment of our staff" for the better-than-expected profits.

"During 2010, we will maintain a focus on costs while reaping the benefits of an improvement in the rate of decline in advertising revenues. While the board remains cautious about the economic outlook, it anticipates a satisfactory performance for 2010," she added.

Last month, Trinity purchased the regional arm of rival Guardian Media Group (GMG) in a deal that is estimated to be worth around £44.8m.

Shares in the company were up more than 5% in the company to 153.6p.