It is the first time Metro has recorded a first-quarter profit since it went public in 2000, which is usually a weak quarter. In the same period last year, Metro posted an operating loss of $7.3m (£4.13m). Sales for the quarter were $65.8m, compared with $43.6m for the first quarter of 2003.
The company has attributed the rise in profits to a policy of expanding in existing markets with more launches planned.
Last month Brand Republic reported that Stefano Hatfield, the former editor of ±±¾©Èü³µpk10, is tipped to be the editor of Metro International's planned New York launch, which would be one of its most high profile to date.
Metro International is planning the launch of its Metro title in New York some time in May or June and is currently recruiting staff.
Pelle Tornberg, president and CEO of Metro International, said: "Our strategy of extending circulation in existing markets in order to access new revenue streams has proven successful and our real estate line extension in Stockholm delivered a break-even result in only its first quarter of operations.
"There is more to come in this area and we have already announced the launch of two new sports newspapers to coincide with sporting events that will capture global attention this summer."
Metro runs 32 newspapers in countries including Sweden, France, Poland, Denmark and Spain. It has also expanded outside of Europe with titles in Chile, Hong Kong and in Boston and Philadelphia in the US.
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