Seven Group says the current uncertainty in global markets may prompt the media and earthmoving equipment company to consider further impairment charges on its investments.
Executive chairman Kerry Stokes said the current volatility in world markets "may impact on the share prices of various investments in the group, which will ultimately need to be considered in terms of impairment charges at 31 December".
Seven Group was formed after Mr Stokes brought together his mining and television interests under one roof in a $3 billion merger.
The company was further changed in February 2011 after a $4.085 billion deal that resulted in West Australian Newspapers Holdings acquiring the free-to-air television, magazine publishing and online assets of Seven to form a new company Seven West Media.
Currently, Seven Group owns 32.5 per cent of Seven West Media, a company that operates the Seven television network and publishes The West Australian newspaper, among other properties.
The group also holds stakes in pay-TV holding company Consolidated Media Holdings as well as the Caterpillar dealership business WesTrac and a cornerstone investment in the Agricultural Bank of China.
At the full year results presentation in August, Seven Group wrote down the value of Seven West by about $239 million and its investment in Consolidated Media by $67 million.
Mr Stokes on Wednesday said Seven West Media had recently completed a very successful refinancing of all its debt facilities and was the best-performing media business in Australi.
He said it was "particularly well placed to take advantage of an improving economic outlook".
"Unfortunately, the share price of Seven West Media was sold down heavily through the recent market turmoil," Mr Stokes said.
"However, as a result of completing the refinancing, the market is now starting to re-assess the quality and value of this business."
Mr Stokes told shareholders at Wednesday's annual general meeting that underlying net profit for the six months to December 31, 2011 was expected to be between $140 million and $150 million.
This compared with $128 million in the first half of 2010/11, Mr Stokes said in prepared remarks.
The bulk of Seven's earnings in 2010/11 were from its WesTrac Caterpillar dealership in Australia and China.
Mr Stokes said both units were expecting revenue growth of 20 per cent in the first half.
Seven Group chief executive Peter Gammell said the company's performance was closely linked to demand for Australian resources, construction and infrastructure and the continuing prosperity and development of China.
"We believe the outlook both in Australia and China remains very positive," Mr Gammell said.
"We are confident that our businesses are well positioned and that shareholders can look forward to further strong growth in the current six months."
Mr Stokes said it was too early to offer earnings guidance for the second half of 2011/12.
Seven Group closed up 2.64 per cent, or 20 cents, at $7.78
