Free newspaper publisher Metro International made a â‚¬20m (£17.7m) operating loss last year on a like-for-like basis, according to figures released this morning. This compares to a 2007 loss of â‚¬18.6m (£16.5m).
Total revenues fell 11 per cent year on year to â‚¬295.5m (£261.8m).
Metro is published in more than 100 cities in 20 countries across Europe, America and Asia. The group claims a global reach of 20 million readers a day.
Last week, Metro International announced it was closing its Spanish free newspaper operation with immediate effect.