The UK's august organ of matters monetary, the Financial Times, is launching a free afternoon edition.

Publisher Pearson claims the purpose of the slimmed version is to attract more readers to the following day's main publication and to the online edition.

The A4 size FTpm, which will carry some advertising, will be available to "corporate clients, including City office developments and leading publicly listed companies, airlines and leading business hotels".

Says managing director Michael Rzesnitzek: "We'll reach our business readers in their offices, or when they are travelling." He adds: "This is another important audience for our advertisers."

The FT has been unprofitable for the past two years due to a weak advertising market, and Pearson has been ruthless about cutting costs. But ceo Marjorie Scardino insists the paper is not for sale, despite mounting pressure from shareholders to improve performance.

Data sourced from Wall Street Journal Online; additional content by WARC staff