MediaHouse Ltd. saw its profits rise by almost $250,000 during 2008, despite difficult economic conditions.

The company, which owns the Bermuda Sun, Island Press, Bermuda.com and Global Directories, which prints telephone directories across the Caribbean, and is based in Bermuda, experienced an increase in comprehensive income to $2.7 million or $5.48 per share last year from $2.5 million or $4.64 per share in 2007.

The Bermuda Stock Exchange-listed company's total assets were up slightly from $31 million in 2007 to $32.3 million in 2008, with liabilities down at $22.6 million from $23.3 million over the corresponding time.

Caribbean Publishing Co. Ltd. continued to see positive revenue growth throughout the region, all the more noteworthy over a period of deteriorating economic conditions and deregulation within the telecommunications industry, while it also won the Best Print Directory in the 50,001 to 100,000 circulation category from the Association of Directory Publishers for its Cayman Islands Telephone Directory.

MediaHouse said The Bermuda Sun Ltd. managed to offset the downward pressures on revenue caused by the toughening economic market, as Island Press Ltd. and Preview of Bermuda also successfully maintained their profitable positions.

At the end of 2008, MediaHouse ASP Ltd. launched MicroMaps, an interactive mapping system, which it views as a key part in the company's future success.

Meanwhile, the company's preference shares at their par value of $5 per share during the year ended September 30, 2008, while shareholders received nine months of interest over the same period.

Randy French, president and CEO of MediaHouse, said: "During the year, the weakening economic climate challenged the company's management and their team members to be more creative, be acutely responsive to changing inputs and outputs, and most importantly be intensely customer-focused.

"Unfortunately, the bearish economic conditions globally have continued to deteriorate subsequent to year-end.

"It will be the board and management's job to make the tough decisions needed to keep the company moving forward during these difficult times."