Britain's Telegraph Media Group saw an increase in its operating profits of nearly 5 percent, to £34.3 million, last year, despite its £24.2 million payment to end a West Ferry printing deal with Express Newspapers to use News International's full colour printing presses, Media Guardian reported Thursday.

Revenue for the group, which publishes the Daily Telegraph, Sunday Telegraph and telegraph.co.uk, grew by 4 percent to £355 million for 2007, according to Media Guardian.

Meanwhile, profits before taxes increased by £800,000 to £33.7 million. Operational earnings after exceptional costs amounted to £11.8 million, which was a £1 million growth since 2006. Total exceptional costs for last year were £23.8 million.

"The media market is developing rapidly as digital technology, and the spread of broadband access, fundamentally change the manner in which consumers access news and information. This is impacting on the business environment in which the industry operates," said the company's directors, according to Media Guardian.

The directors further pointed out that the company's position was in favour of benefiting from market changes since it tailored its multimedia publishing to advertisers demands, Media Guardian reported.