The Daily Mail and General Trust has increased operating profit by 26% in the past year by controlling costs and continuing to grow the digital side of the business.
The trust owns Associated Newspapers and Northcliffe, which publish the Daily Mail, Mail on Sunday and a host of local papers.
The Daily Mail's circulation fell by 1.7% in the six months to 4 April, and the Mail on Sunday saw a drop of 3.2%. But traffic on Mail Online and other websites rose by 16% between March 2009 and March 2010.
The half-year results statement said, "Underlying digital revenue from the newspaper titles' companion sites increased by 20% to £5.4m due to the growing success of Mail Online."
Digital revenues across the company for the period were up 13% to £9m, although the company's overall revenue was down 7% to £132m.
The trust said, "Our products and services, and their means of delivery, are affected by technological innovations, changing legislation, competitor activity or changing customer behaviour. Our strategy of diversification and willingness to take a long-term view helps us react to these challenges and opportunities."