Managing director Steve Auckland revealed that the drop in advertising follows single digit declines between October and December last year.
Auckland said: “The paper is still profitable, but it has suffered a double-digit decline in ad revenues in the first quarter. This will continue for the next six months.”
He added that he believes free newspapers will perform better than paid-for newspapers in the current economic climate, with Metro‘s smaller cost base becoming a crucial factor.
Metro celebrates its 10th anniversary this year.
