British regional newspaper group Johnston Press posted an 4.8 per cent fall in first-half operating profit due to a continued, decline in advertising revenue.
Advertising revenue in Ireland was the only area to buck the trend with ad revenues growing in the Republic by 10 per cent.
The group said overall ad revenue fell 1.5 per cent in the first six months, though it had seen an improved ad market in July, which could result in some growth in the second half.
Johnston publishes hundreds of local newspapers and websites in Britain and Ireland.
The group reported operating profit of €142.7 million, marginally ahead of analysts' expectations of €140.4, according to Reuters Estimates.
Revenue was up 0.1 per cent at €461.5 million.
Overall advertising revenue fell 1.5 per cent, though digital revenues grew strongly, up 33.5 per cent.
It said the rate of decline in UK print-based advertising had slowed, falling 2.9 per cent for the six months, compared with a fall of 9.2 per cent in the previous year.
Property advertising was the only category to show growth in the UK.
Employment advertising fell 4.3 per cent, though this was an improvement relative to a fall of 21.5 per cent a year ago.
Revenue from UK newspaper sales increased 0.5 per cent, as selective cover price increases offset reduced circulations.
"The month of July has seen a continuation of the improving month-on-month advertising trends in the UK," Chief Executive Tim Bowdler said.
"(We) anticipate a satisfactory outcome for the year as a whole."