Earnings: Metro International reports a loss for 2008

Free newspaper publisher Metro International made a €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 €18.6m (£16.5m).

Total revenues fell 11 per cent year on year to €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.

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