The Standard, which went free in October 2009, will begin distributing an additional 100,000 to increase circulation to 700,000. According to figures presented by managing director Andrew Mullins, the Standard is now bigger in London in circulation terms than the Guardian, Independent and Financial Times.

Recent figures filed at Companies House, suggest a £28.3m loss for the Standard in the 10 months to early October last year. But reports last month by the Guardian suggest the title broke even for the first time since its new owners took control in January last year, reducing its operating cost base by £20 million, including some redundancies, and production costs of £1.1 million are now reported to be offset the same amount in advertising revenue.

"We have to stop losing money, stabilise the business model and then increase circulation," Mullins told an audience at Northcliffe House at an event organised by the Greater London Group of the Chartered Institute of PR.

But October's planned increase in circulation will not see a dramatic growth in circulation area, said editor Geordie Greig.

"We are still on a journey to fully find a cast iron or perhaps cast gold future. We've a lot still to do, it's not easy. The newspaper industry is in pretty unstable form, there are questions we don't know the answer too. We've got to be agile, dynamic, entrepreneurial, bold, and humble," said the former Tatler editor, who took over the Standard's editorship in February 2009.

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