Fri, 31 Dec 2021 | BUSINESS NEWS
Media business National World has said that it is actively pursuing acquisition opportunities as it looks to grow its digital offering and expand its content base from news into other areas. In a trading update for the year to January 1 2022, the business said it is “actively engaged in developing acquisition opportunities” following its £10.2 million takeover of JPI Media in January 2022.
In the trading update, the firm said it was “currently implementing a new phase of restructure to create a sustainable premium content and sales business as well as maintaining performance in the near term.” In addition to acquisitions, National World says that it is “also open to adding to its heritage assets to build scale and enhance shareholder value through synergies.”
The company said: “Since the acquisition of JPI Media and its subsidiaries on 2 January 2021, the modernisation of the business has proceeded at pace and we have established a media presence across the whole of the UK with numerous online launches. At the same time, we have delivered efficiencies and there has been an improvement in advertising revenue.”
National World also revealed that its full year revenue is forecast to stand at around £85 million, with revenue for the second half of the year set to be broadly in line with the second half of last year.
Over the year, the firm expects digital revenue growth of around 20 per cent and also forecasts an improvement in print revenue for the second half of the year, with a 3 per cent decline expected, compared to a fall of 9 per cent in the first half of 2021.
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