Profit-making City AM looks to expand outside London

City AM, the London free morning paper, has made a profit for the first time since launch in 2005 and is looking to increase its circulation from 100,000 to 150,000 and possibly expand to a second city.

According to The Times, the publisher made a £47,000 profit in the six months to March. Ad revenues in the same six-month period were £3.5m.

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