Independent News & Media said sales this year are “marginally ahead” and that it's too difficult to give a forecast for full-year results.
Investments in India, New Zealand and South Africa have helped the company offset slower growth in the UK.
The publisher, whose titles include the Irish Independentand Sunday Independent, said last month it will buy a 20 percent stake in Indonesian publisher PT Abdi Bangsa TBK.
It is “difficult to reliably forecast” full-year results “against a background of unprecedented and broad-based economic uncertainty,” chief executive officer Sir Anthony O'Reilly said in the statement.
“Assuming no further deterioration in advertising markets, Independent News currently anticipates another year of achievement.”
Independent News fell 9 cents, or 4.1 per cent, to €2.14 at 2.43pm in Dublin, the day's lowest price.
The war of words Sir Anthony and businessman Denis O'Brien, continued today.
Although Mr O'Brien did not attend the meeting, group chief operating officer of IN&M Gavin O'Reilly, branded Mr O'Brien a "dissident shareholder" whose comments about the corporate governance of the company were "absurd".
Mr O'Brien yesterday renewed his attack on corporate governance at IN&M, arguing the board was too large, there were too few independent directors, and its audit committee was too closely affiliated with management.
He sent a representative to the meeting who repeated the criticisms.
"I was disappointed he (O'Brien) did not show up; I was not surprised, because I think there were other shareholders that might very much like to ask him specific questions," Gavin O'Reilly told reporters on the sidelines of the meeting.
"His posture has ... eliminated any prospect of him serving in any capacity on this board ... he has not offered any strategic vision at all."
Mr O'Brien holds 25 per cent of the company, just shy of Dr Anthony O'Reilly's 27.9 per cent.
His ongoing acquisition of shares in the company has led to speculation that Mr O'Brien may launch a takeover bid for IN&M.
The market has largely discounted that likelihood, however, given that Sir Anthony O'Reilly has a big enough stake to block any offer.
"You cannot beat something with nothing, and that is all that Mr O'Brien has offered ... he obviously shied away from making a bid, that may probably be a function of his own financial limitations," said Mr O'Reilly.
IN&M is scheduled to announce its first half results on August 27th.
Additional reporting:Reuters