Scotsman owner National World reports 'robust' performance in second half of 2021

Media group National World, which owns titles including The Scotsman, Scotland on Sunday and Edinburgh Evening News, said performance in the second half of the year had remained robust, and full year adjusted results are set to be substantially ahead of the company’s expectations.

A trading update 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.”

Revenue for the full year is expected to be c.£85 million with revenue in the second half expected to be broadly in line with the second half of 2020. Robust digital revenue growth of c.20 per cent is expected for the full year with print revenue year on year trends expected to be significantly improved with a decline of c3 per cent in the second half compared to the 9 per cent decline in the first half.

The Group has cash balances expected to be c.£23 million at the end of the year representing an improvement of c.£4 million since June 2021.

National World owns titles including The Scotsman

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The update added the Group was “currently implementing a new phase of restructure” to create a sustainable premium content and sales business.

It said: “Management is actively engaged in developing acquisition opportunities primarily targeting businesses that will enhance its digital capabilities and broaden its content base beyond news. It is also open to adding to its heritage assets to build scale and enhance shareholder value through synergies."