Media News - Monday, February 11, 2008
Metro International posts 2007 losses
Metro International, the Swedish publisher of free newspapers, on Friday posted a loss for 2007, blaming its performance on a volatile global newspaper market. The company posted a net loss last year of USD 27.6m (EUR 19m), down from a net profit a year earlier of USD 12.9m (EUR 8.9m), but saw its sales increase by 8.7 percent to USD 452.9m (EUR 312.3m). In the last three-month period of the year, usually a strong quarter, Metro saw its net profit slashed in two despite a 12.1 percent increase in sales. Metro International, which counts more than 70 papers across 23 countries in 19 languages, claims to have 23.1 million daily readers worldwide, 74 percent of whom are under the age of 49. (AFP via the Local)
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