Sales for the year to the end of April 2005 showed a 1.3% fall to 178m, with pre-tax profits at 8.2m, down by a third on the previous year.
The company sold Great Northern Envelopes, which contributed 23.5m in sales, and 2m operating profits, to an MBO team in May.
However, interest payments for the year totalled 8m, with the group recording an operating profit of 15m.
The group's strategic review of its On Demand communications is ongoing, despite speculation of a possible sale.
Adare Group finance director Cormac O' Tighearnaigh said: "We are not in a position at present to make any statement."
The On Demand division covers Kall Kwik and Prontaprint, and industry sources have speculated that a period of due diligence has already begun.
The strategic review was instigated by Adare's majority shareholder Allen, McGuire & Partners in July last year.
Adare defies sales fall to cut debt
Adare has reduced its net debt by 14.2m to 82.5m, despite the print group reporting a drop in sales and profits in its latest accounts.
