The Telegraaf newspaper Group TMG booked a 4% decline in turnover last year at €590m, the Financieele Dagblad reports on Friday.
But operating profit rose 22% to €60m following cost-cutting measures, TMG chairman Ad Swartjes said at the group’s New Year reception.
A decline in newspaper and radio advertising sales was partly offset by an increase in online advertising, Swartjes said.
The company expects stable newspaper circulation figures this year and hopes the purchase of the Hyves social networking site will lead to further growth in online advertising.
Swartjes also reiterated that TMG is in the market to buy the Dutch arm of SBS which has been put up for sale by its German owners.
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