Metro positive despite first quarter loss

Newspaper group Metro International has reported a pre-tax loss of 4.9 million dollars for the first quarter of the year. In the same period last year the company made a profit of 6.9 million dollars.

Income has climbed to 93.2 million dollars from 84.1 million dollars last year.

Managing director Pelle Törnberg reckons that it has been a good start to the year for Metro, which began in Stockholm in 1995. In the report he pointed to strong growth in turnover.

As far as the Swedish operation is concerned, Metro returned a net profit of 3.4 million dollars, compared to 2.5 million dollars in the same period in 2005.

Turnover in Sweden fell slightly, from 25.8 million dollars to 24.3 million dollars.

The overall loss for the company was due to operations in southern Europe and the USA. But even in those regions sales were increasing, said the company.

TT/The Local