The publisher of The Sun has reported a £253m loss after slashing the intangible value of its newspapers by more than a third amid declining print sales and continuing fallout from the phone hacking scandal.

News Group Newspapers, which also publishes the Sun on Sunday, said it had written down the titles’ intangible valuation by £204.3m after a review. Such calculations include estimates of the value of brands and goodwill.

It accounted for the biggest share of one-off charges totalling £276.7m. The figure also included costs of more than £50m related to the phone hacking and bribery scandal that engulfed the now-defunct News of the World and The Sun five years ago.

The publisher also took a charge of £10.2m for professional fees related to its Management and Standard Committee, the controversial internal unit set up to cooperate with police investigations. Legal claims against News Group Newspapers cost £4.3m for the year to the end of June 2015.