National World Share Discussion Threads

[clanger66] 24/6/2024 12:32

So Harwood bought Downings stake!

[rivaldo] 20/6/2024 13:04

I too have been buying a few. I suspect my last purchase sent the price up after midday!

The clearance of Downing's overhang should greatly help sentiment - and hopefully the currently meagre rating.

It'll be interesting to see who's picked up the shares.

[clanger66] 20/6/2024 09:06

I see Downing have sold their 4.15 percent stake now. Hopefully now this overhang has gone we might see some recovery in the share price. Broker f/cast for Dec year end is 3.1p putting the stock on a sub 5 multiple. No pension debt and dividend yield of 4.6%. Crazy cheap.

[saucepan] 05/6/2024 13:17

I have been buying, too. Thanks, redarmy, for the heads up. There is an element of AI play here.

[napoleon 14th] 31/5/2024 12:29

There can't be much stock about as my small punt sent the shares up...

Edit at 14:12

Hugely sensitive - a later even smaller sell sent the price down again...

[napoleon 14th] 31/5/2024 12:26

Bought a few @ 15.345p (contrary to 14.5p/16p first quoted) as the T/O posibilities are interesting and Small Caps Life (free subs to a very interesting forensic analyst) closing comments:

"LFLs look to be slightly ahead. For us, flat is a win in these advertising markets. Extending these forward leads to revenue slightly below the £101m Dowgate forecast. However, in practice, we expect them to make at least one acquisition and beat forecasts.
Adjusting out the net cash, these forecasts leave the company on a P/E of just 4, even after a small share price rise this week. This seems far too cheap for a cash-generative company delivering flat like-for-like revenues in trough advertising markets. We can’t help feeling that if they could be bothered to do some proper IR, the share price would be at least double the current level. Let’s hope the institutions voting against key board members gives them the kick they need."

[red army] 30/5/2024 07:22

This stock in greatly undervalued to say the least and should be rerated.

[red ninja] 06/2/2024 22:15

Downing Strategic Micro. Cap. I.T. Is closing down and is selling of it’s holdings including NWOR. The managers are incentivised to sell stocks sooner.

[colinp] 18/1/2024 13:01

Excellent trading update today. Future looks bright. share price responding well, but surely much further to go.

[red ninja] 15/12/2023 17:15

Market seems to be worried about NWOR given that the share price has sunk.

However, in the July results they stated :-

" Full year expectation unchanged with projected revenue increase on 2022"

although admittedly they made a couple of acquisitions to keep to the growth plan on track.

Last year there was a trading update on the 17th Jan so maybe not to long to wait for news.

[tole] 18/10/2023 05:48

Downing's MacKenzie spies a good news story at National WorldMultimedia company National World (NWOR) has made two acquisitions that could boost revenues to more than £100m, says Downing fund manager Judith Mackenzie.MacKenzie holds the stock in her £27m Downing Strategic Micro Cap (DSM) investment trust, and in her most recent update said the company had been a major contributor to returns in September.'National World reported the acquisitions of Midland News Association (MNA) and Press Computer Systems (PCS),' she said.'MNA adds a significant independent regional print title with a daily circulation of over 20,000 papers. PCS adds software-as-a-service solutions for publishers and fits into the existing digital first National World strategy.'MacKenzie said that following the purchases, the group 'is expected to exceed £100m of annualised revenue post-completion'.Trading at 16.8p on Tuesday, shares in National World have fallen 12% this year, valuing the company at £46m.

[tole] 05/9/2023 19:57

A couple sizeable trades 1.8m rolled through today.

[maxk] 11/8/2023 07:44

Local publisher National World declares interest in bidding for The Telegraph

An auction is expected to begin formally in September

By
Christopher Williams,
BUSINESS EDITOR
10 August 2023 • 5:48pm




A veteran newspaper executive has become first to declare publicly an interest in a takeover of The Telegraph since Lloyds Banking Group seized control in June.

National World, a local newspaper and news website publisher founded by David Montgomery, 74, who edited The News of the World in the late 1980s, told the stock market it was considering a bid.

It said it “will consider participating in a sale process for Telegraph Media Group as and when such a process formally commences”.

The announcement was not required by City authorities and was described as a “tidying up exercise” by a source close to National World. However, public confirmation could make conversations with potential financiers less legally complex by ensuring insider information is not shared.

Lloyds took ownership of The Telegraph by appointing receivers from the specialist consultancy AlixPartners. The bank won court approval for the unusual action following a lengthy dispute over debts of more than £1bn which had been secured against the publisher by the Barclay family, its owners since 2004.

Goldman Sachs has been appointed to run an auction, expected to begin formally in September.

A bid would represent a bold attempt at expansion for Mr Montgomery and National World, which is listed on London’s junior Aim market and valued at £48m. Estimates of The Telegraph’s valuation vary significantly but begin at £200m and run as high as £1bn.

At £39m, its pre-tax profits last year were nearly eight times those of Mr Montgomery’s portfolio of local titles, at £5m.

National World, which at the end of last month had £22m cash, made no reference to how it might finance a bid.

The company’s biggest shareholder is Media Concierge Holdings, a direct marketing provider that has become Ireland’s biggest local newspaper publisher with a reputation for deep cost cutting. It is controlled by British businessman Malcolm Denmark.

After a career as a journalist, in the 1990s Mr Montgomery became chief executive of Mirror Group following the Maxwell scandal. He then founded Mecom, a London-listed company which borrowed heavily to buy up European newspapers in the 2000s. It hit trouble in the advertising recession sparked by the financial crisis and Mr Montgomery was ousted by City investors in 2010.

He had greater success with Local World, set up to acquire a portfolio of regional newspapers from the publisher of The Daily Mail. Mr Montgomery stripped out costs and sold the titles on to his former employer Reach, the owner of Mirror Group.

His latest venture National World was formed from the bust ruins of Johnston Press, latterly JPI Media, the publisher of titles including The Yorkshire Post, The Scotsman and Belfast’s News Letter, the oldest English-language daily in print. Mr Montgomery, who acquired the newspapers in 2021 for just £10m, has substantially increased their value by squeezing budgets and investing in their websites.

National World said its interest in The Telegraph reflected its growth strategy of “actively exploring opportunities to build its business through acquisitions and implementing its new operating model for owned assets”.

Mr Montgomery’s appetites for cost cutting and influence have brought him into conflict with journalists many times over his executive career, including now at National World. As the company declared an interest in The Telegraph, the National Union of Journalists announced a ballot for industrial action over pay, job cuts and “David Montgomery’s decision to make himself the de facto editor”.

A union spokesman said: “The number of staff who’ve chosen to leave National World in recent weeks is a direct reflection of how little faith is left in a management whose only strategy appears to be ‘more for less’.”

National World’s decision to declare its interest will fuel speculation about possible collaborative bid structures designed to beat potential regulatory hurdles.

For instance a bid by DMGT, the publisher of The Daily Mail, would be at risk of a lengthy review of its impact on media plurality that would reduce its attractiveness to Lloyds. A joint bid might reduce such a risk, as well as share the cost.

[strollingmolby] 10/8/2023 09:04

Response to media speculation

National World notes media speculation that it is a possible participant in the sale process surrounding Telegraph Media Group and its associated titles.

As the Company has previously announced, its growth strategy is rooted in actively exploring opportunities to build its business through acquisitions and implementing its new operating model for owned assets.

The Board continues to evaluate accretive opportunities to grow the business and will consider participating in a sale process for Telegraph Media Group as and when such a process formally commences. There can be no certainty that an acquisition will take place nor as to the terms of such an acquisition.

The Company will provide further updates as and when appropriate.

- Ends -

[simmsc] 08/8/2023 20:35

https://pressgazette.co.uk/publishers/national-world-launches-shots-video-news-tv-channel-on-freeview/

[red ninja] 24/5/2023 22:50

Downing and Axiom both buy in advance of the results.

Trading update shows challenging ad spend market, but they have maintained their profit expectations for year by using some of their cash pile to buy acquisitions.

[simmsc] 10/2/2023 18:10

I ran a search yesterday to look for companies that were on a pe of around 10, over mkt cap of 20m, with a sensible bid offer spread and had at least 1 eps forecast upgrade in the last month and it produced a list of 7 and this was one of them - scalable and a small package. Very possible!

[quant_investor] 10/2/2023 16:09

Tweet from SCSW yesterday.

Good things come in small packages. The next issue is out in 2 days! Don't miss out! The lead co has just had a 10% eps upgrade, PE 10 but scalable and margins climbing. 5-10 bagger.

Any thoughts on which company this might be

[red ninja] 10/2/2023 14:17

Downing Strategic Micro Cap. I.T. January factsheet comment :-

"National World (+40.5%) recovered strongly as its lean operating and cost structure shone through in a market which has been heavily affected by declining ad spend and higher newsprint and labour costs. The business beat guidance and also upgraded 2023 numbers, while the strong 2022 performance meant that year end cash finished at
£27m."

[red ninja] 09/2/2023 15:21

davidosh,

Any feed back on how they performed ?

[davidosh] 06/2/2023 16:02

National World plc are to be analysed and featured on the BASH (Buy Avoid Sell or Hold) this evening

Programme for Monday 6th February 2023, 5pm – 9pm
5.00 pm Stephen English: Twinkle, Twinkle, small cap stars
5.40 pm Company presentation by Newmark Security
6.10 pm Company presentation by Impax Asset Management
6.50 pm Company presentation by Learning with Experts – Full presentation tomorrow lunchtime on zoom webinar
7.10 pm Mark Bentley Signet news… first North East group meeting
7.15 pm Special guest interview
7.40 pm Company presentation by Van Elle
8.10 pmMello BASH with Damian Cannon, Kevin Taylor and Mark Simpson covering IG Design Group plc, National World plc, Netcall plc.

[red army] 01/2/2023 11:18

Rerating overdue due to fundamentals in my opinion.

[abergele] 01/2/2023 10:51

Is this the move we've been waiting for..g.l.all.LTH's