The title, which launched in Warsaw in 2000 and employed 70 journalists, was one of Poland's largest daily newspapers and was distributed across a number of the country's major cities. However, it recorded unaudited revenues of 拢2.7m and an earnings before interest and tax loss of 拢1.9m for the year ending January 31 2006.
Pelle Tornberg, chief executive officer and president of Metro International, said: "Despite local management's success in establishing Metropol as a trusted and innovative newspaper on the Polish media scene, Metro Poland has failed to meet the required profitability and growth criteria set for each of our operations.
"We have thus taken the decision to exit the Polish market and close down Metropol in order to focus our resources on higher growth and larger scale strategic markets."
In a note of optimism, Tornberg added that Metro International had recently confirmed plans to launch Metro Finland for the Scandinavian market, adding: "We have successfully enhanced the attractiveness of our portfolio of mature operations and we are more than ever committed to reaching the right balance between growth and profitability for the benefit of shareholders."
Metro International reported an 11% year-on-year increase in sales for the first half of last year in July 2006. The company put its name forward to win the Network Rail tender to distribute a London evening newspaper, but the rail company pulled the process after bids did not meet its expectations.
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