National World FY23 Results

National World reported FY23 results that were ahead of our expectations, with PBT/EPS of £9.7m/2.8p vs DCe £9.0m/2.5p and we maintain our 2024 estimates for £11.0m/3.1p.

National World FY23 Trading Update

National World has released a Trading Update that confirms a resilient performance for FY23 with Adjusted EBITDA of over £9.0m above expectations.

Acquisition of MNA and PCS

National World has announced the acquisitions of Midland News Association (MNA) and Press Computer Systems (PCS) for £11m in cash and we raise our 2024 EPS estimate by +16%.

Interim results

National World has reported interims in line with its budget and confirmed FY23 PBT/EPS expectations for £9.0m/2.5p underpinned by continued investment in acquisitions and new launches.

AGM Trading Update

National World has released a Trading Update for the 21 weeks to May that indicates trading is in line with expectations and we maintain our PBT/EPS estimates.

FY22 Results update

National World has reported FY22 results ahead of our expectations and we maintain our PBT/EPS forecasts of £9.0m/2.5p for 2023.

FY22 Trading Update

National World has reported a strong Trading Update, we increase our PBT/EPS estimates by +11% for FY22 and +7% in 2023, with higher interest income, digital revenue & cost estimates.

Interim results update

National World reported interim results that were well ahead of our estimates and despite the challenging macroeconomic environment we maintain our FY22 estimates.

AGM update

National World has released a very robust AGM update and we maintain our FY22 estimates.

2021 results

National World reported FY21 results well ahead of DCe and aided by a robust start to the year we maintain our 2022 forecasts despite input price inflation.

National World - Trading Update

National World has reported a very robust FY trading update and we raise our EPS forecasts by +30% for FY21 and +9% for 2022. The operational transformation implemented by National World has improved the revenue performance of JPI Media more quickly than we had expected, with H2 revenues broadly flat compared with 2020, with +20% growth in Digital offsetting the -3% fall in Print. The group expects FY21 revenues of £85m, compared with DCe £83m and this stronger revenue performance has flowed thr

Interim results update

National World has reported very strong interim results that were well ahead of our estimates and we raise our FY21 PBT forecast by +21%. Revenues were stronger than anticipated, with encouraging progress both in digital revenues and from the implementation of the group's strategy to localise and energise its print assets. This has been combined with swift action on costs as the group dismantled excessive central overheads and redeployed resource to local titles. The group is launching nine digi

Trading update

National World has released an encouraging trading update for the 21wks to 29th May which details the progress being made on the strategy to Localise, Energise, Digitise, Monetise the JPI Group assets. The JPI Group management structure has been delayered and flattened, delivering annualised savings of £4m and the group is on track to deliver at least £5m of annualised savings during 2021. Cash management has been particularly strong, with net cash of £17m at the end of the period ahead of expec

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Record revenue and profitability, FY24 on track

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Maintel - Strong FY23 year-end TU continues trend of over-delivery

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