At 11.45 this morning, its shares were trading at 1324p as analysts released forecasts that its pre-tax profits could be down to as little as €60.5m (£37.5m) from €71.1m (£44m) last time.
Sales, however, are expected to be up by 5.6% to €664m (£411.7m) from €629m (£390m) last time.
One analyst believes the results will be hurt by the performance of the group's Australian and New Zealand operations because of weaker currencies in these markets and weak international economic conditions.
Independent News & Media owns UK broadsheets The Independent and Independent on Sunday and a number of regional newspapers. It is the biggest media company in Ireland, where it publishes five national titles, including the Irish Independent and the Sunday Independent, and several provincial newspapers.
Internationally, it owns 100% of Independent Newspaper Holdings in South Africa, and 10% of Wilson & Horton, its New Zealand division. It owns 40% of APN News & Media in Australia, which owns a number of radio stations and has interests in outdoor advertising and specialist publishing.