Well done to our friends at City A.M on the announcement of their maiden profit. Its hard work out there right now and these boys are managing not only to stay afloat but to do it profitably.
From October 2007 to March 2008, free London business paper City A.M. made a profits of £47,000 before tax (€60,000). The revenues were £3.5m in that period. Last year the publisher made a loss of £754,000. City A.M. was launched in September 2005.
City A.M. plans to increase its distribution from 100,000 to 150,000 and is also thinking of launching in other cities in the autumn. In London distribution will expand to railway stations in south-west London such as Richmond. (Press Gazette)