The company recorded a turnover of £355m, up from £341m in 2006, while profit before exceptional costs increased from £30.4m to £33.3m.

However, the company also incurred a charge of £24m, which a statement from the Telegraph Media Group said was "relating to charges expected as a result of the termination of joint printing ventures".

TMG moved the printing of the Telegraph to the Broxbourne site earlier than expected from West Ferry, which was once the largest newspaper printing facility in Europe.

Overall the company's £9.7m profit was down from £15m in 2006.

The statement also reflected the changing environment for newspaper publishing. Included in the results is the company's ABC, which shows that the Daily Telegraph's sales have dropped by around 10,000 a day, while the overall readership is down by almost 75,000.

In contrast however, its website's average page views have increased from 53m to 83m a month, while monthly unique users has gone from 5.9m to 9m.