Metro International, the world’s largest free newspaper publisher, has announced an operating loss of €1.9 million (£1.7 million) in the fourth quarter of 2008, compared to an operating profit of €3.4 million (£3 million) in the same period in 2007.
For the full year, total net sales were down year on year by 11% to €295.5 million (£262.5 million).
Metro International made an operating profit of €17.3 million (£15.4 million) in 2008, compared to a €15.3 million (£13.6 million) loss in 2007, but the exclusion of one-off gains reveals an operating loss of €20 million (£17.7 million).
Metro is published in over 100 major cities in 20 countries across Europe, North & South America and Asia. In a statement the company said that the paper’s advertising sales have grown at a compound annual rate of 38% since the launch of the first edition in 1995.
Related Links
