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In the update, INM said that adverse economic conditions and the subsequent drop in advertising revenue was having an inevitable imapct on the company's finances.
The firm said it expects to publish its full year results for 2008 on March 31st and commented: "INM has noted the significant and unwarranted decline in INM's share price and believes that the current market capitalisation does not fairly reflect the true value of the underlying assets [and] the current trading performance."
INM is a leading international newspaper and communications group and has its main interests in Australia, India, Ireland, New Zealand, South Africa and the UK.
The firm spans four continents and ten major markets.
