Business Services Industry
Metro International SA issues profit warning for Q3 2007
Nordic Business Report, Oct 12, 2007
NORDIC BUSINESS REPORT-12 October 2007-Metro International SA issues profit warning for Q3 2007(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish-controlled international newspaper group Metro International SA issued on Friday (12 October) a profit warning for the third quarter 2007.
Losses from operations in the third quarter are estimated at about USD13m, while non-recurring items will be approximately USD5m, relating to the departure of the former CEO and consultancy costs.
As a result, Metro now expects an operating profit (EBIT) deficit in the third quarter of approximately USD18m compared to a loss of USD9.0m in the third quarter 2006.
Metro International, headquartered in Luxembourg, is a newspaper group with over 38m weekly readers. Metro editions are published in 93 cities in 21 countries. Metro International is listed on the Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 2.04 US dollars (USD).
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