Irish mediaMedia group Johnston Press Ireland Ltd last year returned to the black, recording pre-tax profits of €1.69 million after it removed €4 million in costs out of the business.

Accounts just filed at the Companies’ Office show that the group, which owns a number of regional newspapers in the Republic, returned to profit in spite of a 16 per cent decline in revenues at the group from €23 million to €19.4 million.

Among the chief factors behind the group returning to profits were the removal of €4 million in costs and the non-recurrence of exceptional costs of €5.4 million in the year 2010.

The Scottish-owned group’s titles include the Limerick Leader, the Kilkenny People, the Leinster Leader and the Longford Leader.