Daily free newspaper, The Evening Standard, has reported a £1.4M operating profit for the year to September 2014.

This is The Evening Standard's third consecutive year in profit.

Although this year the profit is slightly less than was reported the previous year.

In the previous year, The Evening Standard reported an operating profit of £1.75M.

ESI Media stated that for the 2013/2014 year, there was a "significant year of investment in the future of the newspaper with circulation increasing from a daily average of 700, 000 to 900, 000 in the first quarter of 2014."

It is estimated that 1.9M people read The Evening Standard every weekday.

In the current financial year, ESI Media have increased the weekly distribution of the Evening Standard Magazine in the hope of increasing operating profits again for the fourth consecutive year.

In addition to this, ESI Media also stated that the Homes & Properties section has increased revenues already by 30% year on year.

"The Evening Standard has been at the centre of events, politically, economically and culturally and is a vital part of the working day for Londoners. If you do not read it you cannot understand our capital." said Sarah Sands, editor of The Evening Standard.