Bermuda Press (Holdings) Ltd. saw its profits drop slightly by 2.7 percent for the first half of 2008 during a time of tough economic conditions.

The Royal Gazette owner's net income declined from $1,199,729 in 2007 to $1,167,028 this year, while revenue was up from $17,765,916 to $17,857,017 over the respective periods, according to its six month statement to shareholders.

A slow start to the year in the printing division and rising operating costs throughout the company kept net income almost consistent with the previous period, overshadowing the continued positive growth in revenue.