Metro expects profit for 2010
With 2010 coming to an end and the advertising-rich December month to go, Metro International’s CEO Per Mikael Jensen expects the year to be profitable according to an interview in Danish financial paper Børsen (via MediaWatch).
Jensen is also confident that the profits will go on in the coming years – so far only 2006 ended with a small profit. For 2012 Jensen expects an operating margin of 15%.
One of the reasons for the better results is that expansion costs will be minimal in the coming years, as launches and start-up costs are very expensive. In Europe Metro has not launched in the last years, only in Latin America (were the company holds minority interest in most operations) new editions have been launched.
The company also closed or sold loss-making operations in the USA, Spain, Portugal, Greece and Italy.