The editor of London’s free financial newspaper City AM has said the paper will look to increase its distribution ahead of a possible roll-out to other cities in the autumn.
Allister Heath said that the paper would be given away in more locations, particularly in commuter railway stations in south-west London such as Richmond, as it revealed that it has moved into profit for the first time since launching in September 2005.
He told Press Gazette that tweaks to the paper had made it a hit with more readers. ‘It’s about putting more people in the paper, making sure all the most important stories are in the paper. Time and time again we have been changing the splash at midnight.
‘I’m pleased with the editorial changes and I think it’s a reason people are more likely to pick it up.”
City AM distributed 101,700 copies in May, its highest ever figure, and publisher of the independently-owned paper, Jens Torpe, has said the figure could soon be as high as 150,000. The paper has cut the number of hand distributors from 200 to 115.
In the six months to March, the company made profits of £47,000 before tax, from revenues of £3.5m – a 45 per cent increase on last year when it made a loss of £754,000.
Heath said an expansion outside of London was ‘possible”. ‘There are no firm plans for that, it’s something we constantly talk about. We’ll decide later in the year basically.’