Metro International reports loss due to expansion

Metro International, the newspaper group that operates free daily papers in 17 countries, announced a net loss for 2004 of £6m (about $11.3m), according to Media Bulletin. Yet the publisher also reported an increase of £160.1m in net sales and an operating profit of £6.9m. During 2004 Metro invested heavily in new editions in cities including Rotterdam, cities in France and in New York. Recent research reports that Metro International editions now have a total daily readership of 15.2m people.

Source: Media Bulletin