Sales dropped more sharply in the last 16 weeks of the year, with like-for-likes at HMV UK and Ireland falling by 11.4 per cent, and by 5.6 per cent at book chain Waterstone's.
The retailer also revealed that Waterstone's will terminate its contract with e-tailer Amazon and launch its own online service this autumn. The group believes this will 'better reflect the brand's specialist bookselling credentials'.
Waterstones managing director Gerry Johnson said: 'Waterstone's has been undertaking a strategic review of its internet activities for some time and we have concluded that the time is now right to launch its own online service.'
The new website will offer customers more than 3 million titles.
HMV relaunched its own transactional web site in March this year and has reported a strong improvement in sales, traffic and conversion rates.
Pre-tax profits are expected to meet analysts' predictions of between£93 million and£103 million.
The board reported it has yet to decide whether it will make a new offer for the Ottakar's book chain if the Competition Commission approves a merger between Waterstone's and its rival. The Commission is expected to announce its decision on May 22.
The board also said it was making good progress on the appointment of a successor to chief executive Alan Giles.
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