National World increases profits as it drives 'sustainable model for local and national publishing'

National World said that its events programme continued its impressive growth throughout 2024, delivering 150 events targeting a wide range of sectors, with revenue growth of 37 per cent of year-on-year. Events now represents more than 5 per cent of group revenue. Digital subscribers in the National World portfolio increased by 17 per cent in 2024, with a 13 per cent improvement in digital subscriptions revenues versus 2023, the group said.

The statement added: “Our first paid newsletters gained traction in two of our key sport markets and our premium national/large regionals sites The Scotsman and The Yorkshire Post saw a rise in the number of high value annual packages sold in the final part of the year, driven by our New York Times bundle and a trend of improving engagement on our digital apps.”

Three acquisitions were completed in the period, with Athletics Weekly acquired in May, the Serious About Rugby League website acquired in July and The Business Magazine Group Limited, an events and business content specialist, acquired in November

Commenting on the results, Chairman David Montgomery, said: “National World has again increased profits while widening its footprint and its content offering across all platforms. Acquisitions and launches, including the development of TV, events and social media are driving a new sustainable model for local and national publishing. Revenue growth, particularly in digital, has been propelled by local video advertising, across our new World online metropolitan brands and nationalworld.com.

“Automation through AI and other efficiencies in the production areas have released resources to focus on specialised monetisable content, particularly in sport, business and lifestyle.

“We continue to progress our commitment to building the company through consolidation and innovation while constantly increasing productivity and nurturing talent. These good 2024 results have been achieved despite the combined headwinds of macro-economic challenge and non-trading distractions. I would like to pay tribute to all National World staff for their efforts over the period.”

In December, National World agreed a £65.1m takeover by its largest shareholder, Media Concierge. Last month, Media Concierge announced that, although shareholders had passed all of the resolutions required to implement the scheme, the timetable for implementation of the acquisition has been impacted by a delay relating to the consideration of the acquisition by the Republic of Ireland Competition and Consumer Protection Commission.

National World's statement added: “Should timeframes run to current expectations, the scheme should become effective by 30 April 2025, subject to court availability.”

It continued: “As is usual in circumstances where a takeover offer is active, the board have elected not to give future performance outlook guidance. The board nevertheless maintains its guidance that the company will meet its expectations for the full year.”