Friday, January 27, 2006

Hong Kong free daily closer to profit

The Hong Kong free daily am730 expects to record its first monthly profit some time in the second quarter, publisher and property agent Shih Wing-ching told the South China Morning Post yesterday (Jan. 26). One of three free dailies now circulated in the city, am730 hit the streets in July last year and has since accumulated losses of about $20 million. Market leader among the give-away titles, Metro Publishing Hong Kong's Metro made its first monthly profit after 14 months of operation and is believed to have made a profit of $50 million in 2004.