National World (LON: NWOR) shares have surged on Thursday after the company reported a robust first-half 2021 revenue and positive outlook.
Revenue for the period was £42.1 million, with the company stating that revenue performance during July and August was broadly in line with 2020 and management expectations.
National World also posted a pretax loss of £0.9 million compared to a loss of £0.1 million during the same period last year.
While the company said it expects volatility to remain following the lifting of government-imposed restrictions due to the COVID-19 pandemic, it also anticipates trading for the full year to be in line with market expectations. This is despite a ‘significant' rise in newsprint prices in the second half of the year mitigated by further cost savings.
“The scene is set for further organic growth in audience based on original content not available elsewhere and further acquisitions. These will support first and foremost the increase in our digital capabilities and assist in the creation of a sustainable growth publishing model. We will also consider heritage assets at an appropriate valuation,” said National World Chairman David Montgomery.
The company's shares are one of the biggest movers in London on Thursday, currently trading at 39.4p, up 11.19%.
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