Australian newspaper and radio company APN said toady it expects 2004 earnings to be in line with market forecasts and said advertising bookings were "encouraging".
The company - in which Independent News & Media has a 39.7 per cent shareholding - said trading across all of its divisions has remained positive during in the second half of the year.
Analysts expect the company to report full-year earnings of 129 million Australian dollars (€77 million).
Among key divisions, APN's New Zealand publishing unit, which includes newspaper the New Zealand Herald, "continues to perform above expectations."
Australian regional newspapers recorded double-digit advertising growth during the third quarter, driven mainly by yield, but with a 5 per cent increase in volume over the same period in 2003.
APN said it continues to enjoy consistent advertising growth across all its major markets.
Independent News and Media also announced a tender offer this morning for the early redemption of its £75 million worth of guaranteed bonds due in 2005.
The company stated this offer was part of its commitment to actively manage its balance sheet and help in its aim of reducing its debt and net interest expenses.