The company said that overall revenue is expected to be down 9 per cent year on year.
Digital growth of 5 per cent is failing to offset print decline of 12 per cent, the company said.
Print advertising was down 21 per cent year on year, a particularly sharp decline.
Chief executive Simon Fox said: “The trading environment for print in the first half remained volatile but we remain on course to meet our expectations for the year. I anticipate that the second half will show improving revenue momentum as we benefit from initiatives implemented during the first half of the year.”
The company said: “We continue to make progress with our strategy of growing digital display and transactional revenue whilst at the same time tightly managing our cost base to support profits and cash flow with net debt falling in the period.”