LONDON (Reuters) - Reach, the publisher of Britain's Daily Mirror and Daily Express, reported a 9% drop in annual adjusted operating profit to 96.5 million pounds ($122.3 million) after Facebook (NASDAQ:META) and other platforms referred less traffic to news sites.
The company's print revenue fell 2%, as a double-digit decline in advertising was largely offset by a strong circulation performance.
Digital revenue fell 15%, it said on Tuesday, although it added that data-driven revenue - from registered users - continued to outperform the market and now represented 43% of its total.
Chief Executive Jim Mullen said Reach now had clarity on two significant long-term uncertainties in pension funding and "historical legal issues", a reference to phone hacking cases, giving it a "clear path forward for the business".
Britain's Prince Harry earlier this month accepted substantial damages to settle his case against Reach's Mirror Group Newspapers.
($1 = 0.7890 pounds)