Metro sees ad market rebound

Metro International, the global free newspaper publisher, said global advertising market would rebound next year after posting a vast loss.

Related news:
• Falling ad sales hits Metro
• Metro to raise new capital

Metro International, the largest international newspaper in the world, posted a net loss for the third quarter of €8.6 million as total net revenues plunged 26 percent. The same quarter last year the publisher made a profit of €22.2 million.

Despite the gloomy quarterly figures the company’s chief executive officer Per Mikael Jensen believes that the global advertising market will rebound next year. He forecasts a zero result or a minimal profit.

“That feels realistic. All our regions performer better in the third quarter compared to last year”, he said in an interview with the Direkt news agency.

The announcement made the Metro stock gain on the Stockholm exchange.

Operating costs declined year-on-year by 15 percent adjusting for currency movements and closed and divested operations.

Metro was first launched in Stockholm 1995. Today it’s distributed in 150 cities across the globe with more than 20 million readers.

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Last Updated (Monday, 19 October 2009 11:23)

 
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