Local newspaper publisher Archant has described the first half of 2017 as “arguably one of the most difficult starts to the year for almost ten years” as it declared profits down 46 per cent year-on-year.

In a message to shareholders from chairman of the board Simon Bax, seen by Press Gazette, the group was said to have made £2.3m in profit over the six-month period, despite cost savings of £3.4m.

This was put down to a fall in property market revenues of £1.5m and the “continued decline” in print display advertising, bringing revenue down by 10 per cent in the first half of the year.