Lossmaking Metro Shutters Polish Title

11 January 2007

WARSAW: Controlled circulation newspaper group Metro International has pulled the plug on its Warsaw-based daily title Metro Poland.

Launched in 2000, the title last year posted a loss of €2.8 million ($3.64m; £1.88m). Cash and non-cash closure costs are estimated at an additional €1.9m

The group has yet to show an operating profit since the listing of its shares in 2000. Of its seventeen consolidated country operations, only ten were profitable in 2005.

Explains Metro International ceo/president Pelle Tornberg: "We have taken the decision to exit the Polish market in order to focus our resources on higher growth and larger scale strategic markets."

Data sourced from mandmeurope; additional content by WARC staff