The owner of the Daily Mail newspaper saw shares slide in early deals as challenges in the print market persist and it delivered a 4% decline in pre-tax profits for 2015.
Daily Mail and General Trust (LON:DMGT) boss Martin Morgan, said however the group had a portfolio of innovative businesses, which positioned it well for long term growth.
As well as understandable challenges in UK print advertising with the rise of online, the firm pointed to financial data provider Euromoney, in which it has a majority stake, which it expects to continue to struggle in 2016.
These are likely to have an adverse impact on 2016 full year results, as well as the disposal of DMGT's stake in Local World, which completed in November 2015, said Morgan.
Group pre-tax profit for the year to end September was £281mln compared to £291mln in 2014, on revenues of £1.84bn compared to £1.86bn in 2014.
Earnings per share however showed the strength of the group's core - up 7% to 59.7p from 55.7p in 2014.
The group said some of its B2B (business to business) businesses were facing challenging market conditions but it still expect to deliver underlying revenue growth for the overall sector.
"On the consumer side, revenue progress will be largely dependent on the print advertising environment, balanced against further growth in digital areas, although a continued focus on cost efficiencies should provide margin stability for dmg media," it added.
"Continuing investment to drive innovation, coupled with active portfolio management, ensures that DMGT is well placed to create long-term shareholder value."
Shares slipped however around 7% to stand at 655p each.